INSUBCONTINENT EXCLUSIVE:
Private lender IndusInd Bank announced its March quarter earnings on Thursday, which were pretty much in line with expectations, but with a
marginal jump in bad loans.
The stock developed cold feet immediately after the news and gave up its early gains
It traded 1.34 per cent down at Rs 1,819.85 at around 2 pm whereas the Sensex moved up 96 points, or 0.28 per cent, at 34,421.
Here are
major takeaways from IndusInd Bank Q4 earnings.Net profitIndusInd Bank posted 26.81 per cent rise in net profit at Rs 953.09 crore during
the quarter under review as against Rs 751.61 crore in the same period last year
ETNow poll had projected a net profit of Rs 955 crore in Q4 FY18
Net interest income (NII)For the quarter to March, the lender reported net interest income of Rs 2,007.59 crore, up 20.39 per cent from
Rs 1,667.45 crore last year.
Asset qualityThe lender reported a spurt in bad loans, with gross non-performing assets at 1.17 per cent in Q4
FY18 over 1.16 per cent in the preceding December quarter
The figure read 0.93 per cent in Q4 FY17
Net NPA firmed up to 0.51 per cent in the period under review, from 0.46 per cent in Q3 FY18 and 0.39 per cent in Q4
FY17.
ProvisionsProvisions and contingencies for the quarter swelled 42 per cent qoq to Rs 335.55 crore during January-March
However, the figures declined 22 per cent on a yearly basis
Divergence in gross NPAs came in at Rs 1,350 crore for 2016-17 whereas it stood at Rs 1,001 crore for net NPA.
DividendIn a separate
regulatory filing, IndusInd Bank said the board has recommended dividend of Rs 7.50 (75 per cent) per share of face value of Rs 10 each for
