IndusInd Bank Q3 PAT seen up 32% YoY to Rs 272 cr

Private sector lender IndusInd Bank is set to announce its results today, for the period of three months ended December 2012. Analysts on an average expect numbers to be stable this quarter as well with expansion in net interest margin.

Analysts expect profit after tax to grow by 32 percent year-on-year to Rs 272 crore in third quarter of current financial year 2012-13. Net interest income is likely to rise by 28 percent to Rs 550 crore during the same period.

In previous quarter (July-September period), net interest income grew by 22 percent to Rs 510 crore and PAT increased 30 percent to Rs 250 crore. Net interest margin was up by 3 basis points QoQ due to a 7 basis points QoQ drop in funds.

Recent capital infusion of Rs 2000 crore will improve Tier 1 Capital to 15 percent (highest amongst private banks), which is enough for the next three years.

Analysts expect credit growth of 29 percent and deposit growth of 24 percent in third quarter of FY13. In previous quarter, advances rose by 30.83 percent while deposits went up by 24.49 percent.

Asset quality saw a bit of a glitch in last quarter. Analysts expect asset quality to remain stable this quarter. Hence provisions will remain low.

In July-September quarter, provision fell by 8 percent quarter-on-quarter to Rs 49 crore.