Q4FY17 Results: Indusind Bank Ltd
Rohan Takalkar / 19 Apr 2017
Indusind Bank Ltd reported its Q4FY17 results today. The numbers were largely positive and indicated better asset quality of the bank.
Indusind Bank Ltd reported its Q4FY17 results today. The numbers were largely positive and indicated better asset quality of the bank.
The NII for the quarter grew 5.6 per cent to Rs 1667 crore in Q4FY17 as compared to Rs1578 crore in Q3FY17. This was partly aided by 4 per cent increase in the revenues of retail banking segment.
The bank maintained its asset quality as the NPA for the quarter largely remained flat at 0.39 per cent.
Provisions for the quarter were 98.4 per cent higher than Q3FY17 at Rs 430.1 crore in Q4FY17.
However, the bank's net profit for the quarter grew marginally to Rs 751.6 crore as compared to Q3FY17. This was due to higher provisions made during the quarter.
The deposits of the bank saw substantial increase of 36 per cent to Rs.126,572 crore, while its advances grew by 28 per cent to Rs.113,080.51 crore in FY17
The bank also declared a dividend of Rs 6 per share (FV Rs 10) .
Indusind Bank stock opened today at Rs 1,440 and closed down by 0.68 per cent at Rs 1,422.
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