Q3 FY23 PREVIEW: IndusInd Bank: Total Income seen at Rs 66.7 billion; PAT at Rs 19.7 billion

17 Jan 2023 , 12:05 PM

Result Date: 17^th January, 2023

Target Price: Rs1,500

Recommendation: Buy

Analysts at IIFL Capital Services forecast year-on-year (Y-o-Y) growth of 18% in net interest income (NII) of IndusInd Bank in the December quarter. Total Income is forecasted to increase Y-o-Y by 18% in the quarter. Pre-Provision Operating Profit (PPOP) is forecasted to increase Y-o-Y by 14% in the quarter. Profit after tax is forecasted to increase Y-o-Y by 58%. Margins are expected to remain stable in the range of 4.15% – 4.25%. Provisions for bad loans is forecasted to come down Y-o-Y by 29%. 

Important management insights to watch out for:

• Comments on operating expenses
• Comments on growth rate in deposits
• Comments on PPOP

Source: IIFL Research

	December quarter forecast	Y-o-Y	Q-o-Q
NII (Rs bn.)	44.6	18%	4%
Total income (Rs bn.)	66.7	18%	6%
PPOP  (Rs bn.)	37.9	14%	7%
PAT (Rs bn.)	19.7	58%	9%
Provisions (Rs. bn)	11.7	-29%	3%