IndusInd Bank reported a largely in line performance.
- Loan growth up 19.3% YoY. NII up 18.5% YoY, NIMs inch up 3 bps QoQ at 4.27%
- PPP up 14.8% YoY. Lower provision leads to ~69% YoY jump in PAT
- GNPA down 5 bps QoQ to 2.06%. Restructured book down 24 bps to 1.25%
Key triggers for future price performance
- Continued strong guidance of 18-20% YoY credit growth, NIMs at 4.15-4.25% and PPOP margins to be >5%
- Focus on select segments to garner fee income & granular liabilities to aid better performance. Entry in home loans to aid growth but at lower yields
- Focus on distribution capabilities and tech spends to keep CI elevated
- Management indicated that restructured book to end by Q4FY23, Q1FY24. Adequate provision paves way for lower credit cost and thereby earnings
For details, click on the link below: Link to the report
Shares of IndusInd Bank Limited was last trading in BSE at Rs. 1202.30 as compared to the previous close of Rs. 1199.45. The total number of shares traded during the day was 79371 in over 3595 trades.
The stock hit an intraday high of Rs. 1227.95 and intraday low of 1199.25. The net turnover during the day was Rs. 96257107.00.