IndusInd Bank posts positive earnings but has high NPAs
DSIJ Intelligence / 22 Apr 2016
IndusInd Bank, the first bank to announce its Q4FY16 results, posted strong YoY numbers and reasonably positive QoQ results.
IndusInd Bank, the first bank to announce its Q4FY16 results, posted strong YoY numbers and reasonably positive QoQ results.
On financial front, the company has been giving fairly consistent quarterly performance, wherein its standalone Interest earned stands at Rs 3131.69 crore this quarter as against Rs 2927.70 crore in Q3FY16, an increase of 7 per cent Q-O-Q (Quarter on Quarter). The Interest expended stands at Rs 1863.48 crore as against 1754.28 crore for Q3FY16, an increase of 6 per cent. The Net Interest Income (NII) of company stands at Rs 1268.21 crores this quarter compared to Rs 1173.42 crores in Q3FY16, an increase of 8 per cent QoQ.
The Net profit (PAT) stands at Rs 620.35 crore in Q4FY16 as against Rs 581.02 crore last quarter, an increase of 7 per cent Q-O-Q. Company’s Gross NPA stands at Rs 776.82 crore as compared to Rs 681.13 crore, an increase of 14 per cent. Net NPA came in at Rs 321.75 crore as against 273.34 crore, an increase of 18 per cent.
Company posted 21 per cent rise in Interest Earned; and 13 per cent rise in Interest Expended from the same quarter last year. Gross NPA and Net NPA too show a substantial rise of 38 per cent and 53 per cent, respectively YoY.
On yearly basis the Company’s standalone Interest Earned stands at Rs 11580.66 crore for the year ended March 2016, compared to Rs 9691.97 crore in March 2015, an increase of 19.5 per cent. Net profit too grew from Rs 1793.72 crore in FY15 to Rs 2286.45 crore in FY16, an increase of 27.5 per cent. Company’s Gross NPA stands at Rs 776.82 crore as against Rs 562.92 crore, an increase of 38 per cent. Net NPA came in at Rs 321.75 crore from Rs 210.48 crore for the year ending March 2015, an increase of 52.9 per cent.
IndusInd Bank, an India based bank is promoted by the group of Non-resident Indians. The Bank offers services like accepting deposits, lending loans to businesses and retail investors. Its segments also include Treasury, including investment portfolios.
On the day of result the stock closed at Rs 972.1, a decrease of 1.2 per cent. Its Board recommended Dividend at Rs 4.5/Equity share for Paid-up Value of Rs 10.
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