Indusind Bank Q1 profit after tax seen up 45% at Rs 172 cr

Indusind Bank is expected to report 45% jump in profit after tax of Rs 172 crore in the quarter ended June 2011 as against Rs 118 crore in same quarter the previous year, according to CNBC-TV18 estimates.

Net interest income is likely to go up by 26% to Rs 375 crore from Rs 296 crore on year-on-year basis.

Other expectations

Loan growth is likely to be remained strong in April-June quarter of 2011.

Management expects robust growth in CV (commercial vehicles) book inspite of declining trend in CV sales.

Margins are expected to contract by around 10-15 basis points on quarter-on-quarter basis (QoQ) due to rising cost of funds (Net interest margins in Q4FY11 stood 3.5%).

Asset quality remains robust, therefore CNBC-TV18 poll expects credit costs to remain low.

On QoQ basis, net interest income & profit after tax could remain largely flat with a downward bias.