IndusInd Bank Q3 Net Profit seen up 50.9% YoY to Rs. 1,872.8 cr: Emkay

IndusInd Bank | CMP: Rs 1,220.95 | The share price ended in the red despite global research firm CLSA upgrading IndusInd Bank to buy from outperform and has raised target to Rs 1,500 per share. Jefferies has a buy call on the stock with target at Rs 1,600 per share. "Q3 update shows loan growth of 19 percent YoY and 5 percent QoQ. Uptick in retail loan growth also makes better margin while deposit growth was slower at 14 percent YoY and 3 percent QoQ. Valuations of the bank are attractive at current level," it said.

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Emkay has come out with its third quarter (October-December’ 23) earnings estimates for the BFSI sector. The brokerage house expects IndusInd Bank to report net profit at Rs. 1,872.8 crore up 50.9% year-on-year (up 3.7% quarter-on-quarter).

Net Interest Income (NII) is expected to increase by 17.8 percent Y-o-Y (up 3.9 percent Q-o-Q) to Rs. 4,467.8 crore, according to Emkay.

Pre Provision Operating Profit (PPOP) is likely to rise by 10.1% Y-o-Y (up 2.8 percent Q-o-Q) to Rs. 3,643.1 crore.

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