IndusInd Bank’s net profit shoots up 57% YoY on lesser provisioning

Its gross NPA as a percentage of its total loan book fell to 2.11 percent in Q2FY23 from 2.77 percent in Q2FY22, and from 2.35 percent in Q1FY23. The value of Gross NPA was Rs 5,567 crore in Q2FY23, which was a 10.8 percent YoY fall from Rs 6,245 crore in Q2FY22 and a 6.1 percent QoQ fall from Rs 5,932.9 crore.

Its net NPA was 0.61 percent, which was a YoY fall of 19 bps and a QoQ fall of 6 bps.

It posted a net interest income of Rs 4,302 crore this quarter, which is an 18 percent YoY rise and 4 percent QoQ increase. Analysts tracking the private lender had projected 15-20 percent YoY growth in NII for Q2FY23.

IndusInd Bank’s net interest margin was at 4.24 percent, which is a 17 bps YoY rise and a 3 bps QoQ rise.

Return on Assets have improved 51bps YoY and 7bps QoQ to 1.8%, and return on equity has increased 417 bps YoY and 101 bps QoQ to 14.45%.

Its loans went up 18% YoY and 5% QoQ to Rs 2,60,129 crore in Q2FY23 and its deposits went up 15% YoY and 4% QoQ to Rs 3,15, 532 crore in this quarter. Its CASA has gone up 15% YoY and 2% QoQ to Rs 1,33,525 crore and its term deposits have gone up 14% YoY and 6% QoQ to Rs 1,82,007 crore.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.