IndusInd Bank, India’s fifth-largest private sector bank by market capitalisation, is expected to report a 43.3 percent year-on-year rise in net profit when it shares its March quarter numbers today, according to a Moneycontrol poll.
The brokerage house Kotak Institutional Equities, one of four that participated in the Moneycontrol poll, expects the bank to report net profit of Rs 1,812.6 crore, up 33 percent YoY and 7 percent sequentially.
Net interest income (NII) is expected to rise 15.2 percent YoY and 2 percent quarter on quarter (QoQ) to Rs 1,062 crore. Kotak expects pre-provision operating profit (PPOP) to rise 6 percent YoY and 4 percent QoQ to Rs 1,924.6 crore.
ICICI Direct expects a bigger 48 percent YoY growth in net profit at Rs 2,014.8 crore, which would also be 2.8 percent higher than the previous quarter.
NII is expected to go up 17.8 percent YoY and 4.4 percent QoQ to Rs 4,693 crore. PPOP is likely to rise by 11.3 percent from the year-ago period and 0.7 percent from the previous quarter at Rs 3,704.7 crore, the brokerage house said.
Motilal Oswal expects the profit at Rs 2,110.8 crore, up 50.7 percent YoY and 7.5 percent QoQ. The lender’s NII is expected to increase by 19.2 percent YoY and 5.7 percent sequentially to Rs 4,750 crore.
At Rs 3,848.6 crore, PPOP will likely be 13.9 percent higher from the year-ago quarter and 4.4 percent from the October-December period.
Prabhudas Lilladher estimates IndusInd Bank’s net profit at Rs 1,926.5 crore, a rise of 41.5 percent YoY but 1.7 percent down from the previous quarter.
NII is expected to rise 18.5 percent from the year-ago quarter and 5 percent sequentially to Rs 4,721.6 crore, Prabhudas Lilladher said. It sees PPOP going up 14.9 percent YoY and 3.9 percent QoQ at Rs 3,825.5 crore.
On April 21, IndusInd Bank closed 1.07 percent lower from the previous close on BSE at Rs 1,114.20.
So far, the stock has underperformed the Nifty Bank. It is down 9.15 percent since the start of 2023, while the Nifty Bank has lost 2.51 percent over the same period.
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