IndusInd Bank on April 29 reported a growth of 51.2 percent year-on-year in its consolidated profit after tax (PAT) of Rs 1,400.5 crore as compared to Rs 926.07 crore profit registered during the same period last year. On a sequential basis, the profit has inched up 12.8 percent from Rs 1,241.39 crore logged during the October-December period.
The Net Interest Income (NII) (difference between the interest earned and interest expensed) for the private sector lender rose 12.7 percent on year to Rs 3,985 crore as compared to the NII of Rs 3,534.61 crore registered in the year ago quarter. On a sequential basis, the NII is higher by 5.1 percent from the NII of Rs 3,793.51 crore recorded in the previous quarter.
For the full-year period from April to March 2022, the consolidated PAT witnessed a growth of 64 percent to Rs 4,804.6 crore from the profit of Rs 2,929.88 crore registered during FY21.
Consolidated NII for FY22 jumped 11 percent to Rs 15,000 crore from Rs 13,528 crore last year.
Interest earned and expended
The bank earned an interest of Rs 7,860 crore during the quarter, growing by 6 percent year on year from Rs 7,419 crore. On a sequential basis, the growth in interest earned is 2 percent.
IndusInd Bank was able to manage its interest costs better as the interest expended during the quarter at Rs 3,875 crore was flat on year and declined 2 percent on quarter from Rs 3,944 crore.
For the full year the total income (Interest + fee) earned by the bank bumped 8 percent on year to Rs 38,230 crore as compared to Rs 35,501 crore in FY21.
The total expenses (interest + operating) on the other hand grew at a slower pace compared to total income. Expenses for the bank rose by 6 percent on year from 23,629 crore in the previous financial year to Rs 25,132 crore in the reported year.
Other Income
Other income during the quarter grew by 7 percent on year to Rs 1,905 crore from Rs 1,780 crore in the same period a year ago. On a sequential basis, the other income rose by 2 percent.
For the full year, other income at Rs 7,408 crore was 14 percent higher compared to other income of Rs 6,501 crore in FY21.
Operating Expenses
Operating expenses for the quarter grew by 15 percent on year to Rs 2,509 crore compared to Rs 2,186 crore incurred in the year ago period.
Full year operating expenses at Rs 9,311 crore increased 14 percent from Rs 8,157 crore in the prior year.
Margin
Net Interest Margin forQ4FY22 stood at 4.20 percent against 4.13 percent during the same period last year and 4.10 percent for the previous quarter of current financial year.
Deposits & advances
Deposits at the end of the financial year stood at Rs 2,93,349 crore, growing 11 percent from Rs 2,55,870 crore at the end of last year.
Advances during the year grew 12 percent from Rs 2,12,596 crore to Rs 2,39,052 crore.
The gross NPA’s (non performing assets) stood at 2.27 percent of gross advances compares to 2.48 percent at the end of December ending quarter. Net NPAs declined from 0.71 percent at the end of December 2021 to 0.64 percent of net advance at the end of March 2022.
The total capital adequacy ratio for the bank improved from 17.38 percent at the end of FY21 to 18.42 percent at the end of current financial year.
Dividend
The board of the bank has recommended a dividend of Rs 8.5 per share (85 percent) for FY22. The bank had paid a dividend of Rs 5 per share for the previous financial year.
The company's stock settled Rs 9.8 lower at Rs 978.55 on April 29 at the National Stock Exchange. The stock has gained 10.2 percent during the past year.
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