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IndusInd Bank matched street expectations on Thursday with the fourth quarter (January-March) net profit rising 25 percent year-on-year to Rs 495.3 crore.
Private sector lender is expected to report a profit growth of 25.8 percent year-on-year at Rs 498 crore during January-March quarter, according to the average of estimates of analysts polled by CNBC-TV18.
Romesh Sobti, MD and CEO of Indusind Bank expects Q4 to fare better than Q3 and Q1FY16 to surpass Q4 backed by rebalancing of books, softening of wholesale deposits cost and an uptick in vehicle finance business.
IndusInd Bank met Street expectations by reporting a 28.8 percent growth in profit at Rs 447 crore for the quarter ended December 2014, supported by higher other income, net interest income and lower provisions.
Net interest income is expected to increase by 5.7 percent Q-o-Q (up 20.6 percent Y-o-Y) to Rs 880.2 crore, according to Motilal Oswal.
IndusInd Bank's net interest income, the difference between interest earned and interest expended, may increase 19 percent to Rs 869 crore during October-December quarter compared to Rs 730 crore in same quarter last fiscal.
Vishal Goyal, Executive Director-Leading Banks & Financial Research, UBS India, expects private banks to have earnings similar to Q2.
Discussing the results, Manish Ostwal, Head of Research & Senior Analyst - Financials, KR Choksey Institutional Securities, said the bank has posted a strong set of numbers.
Nilesh Parikh Edelweiss Financial Services recommends buying OBC given its valuations.
Net interest income, the difference between interest earned and interest expended, may climb 18.1 percent to Rs 826.6 crore in the quarter ended September 2014 compared to Rs 700 crore in same quarter last year.
Net interest income of IndusInd Bank is expected to increase by 4 percent Q-o-Q (up 19 percent Y-o-Y) to Rs 833 crore, according to KR Choksey and Securities.
Net interest income of IndusInd Bank is expected to increase by 5.3 percent Q-o-Q (up 20.4 percent Y-o-Y) to Rs 842.8 crore, according to Motilal Oswal.
The bank‘s net interest income, the difference between interest earned and interest expended, increased 26.3 percent to Rs 730 crore in the quarter ended December 2013 from Rs 578 crore in a year ago period, which too came in above estimates.
Some analysts have expressed concern the worsening in the asset base of IndusInd, which is regarded as having a strong balance sheet, may be indicative of a larger problem that would unveil itself as earnings season gets under way.
Profit after tax of the bank is expected to grow 21 percent year-on-year to Rs 328 crore and net interest income may rise 23 percent Y-o-Y to Rs 712 crore in the quarter ended December 2013.
Indusind Bank may beat consensus profit forecast for the October-December quarter when it reports results on Friday, Thomson Reuters StarMine's SmartEstimates shows.
According to ICICIdirect.com, net-interest income of IndusInd Bank are expected to increase by 2.4 percent Q-o-Q (up 24.1 percent Y-o-Y) to Rs 716.9 crore.
Net-interest income of IndusInd Bank is expected to increase by 0.3 percent Q-o-Q (up 21.5 percent Y-o-Y) to Rs 701.8 crore, says Motilal Oswal.
On asset quality front alone, small or midcap PSU banks would witness a slightly better quarter, Vishal Goyal, ED, Banks & Fin Research, UBS said.
Top pecking order in the private banking space for Religare Capital Markets is HDFC Bank, followed by Yes Bank, IndusInd Bank and then ICICI Bank over Axis Bank, says Siddharth Teli.
Siddharth Teli of Religare Capital Markets says the numers posted by IndusInd Bank were fairly good both on asset quality front as well as margins.
Net interest income is likely to increase by 32 percent to Rs 675 crore in second quarter from Rs 510 crore in a year ago period.
Net interest income is likely to increase by 32 percent to Rs 675 crore in second quarter from Rs 510 crore in a year ago period.
According to Motilal Oswal, IndusInd Bank to report a 10.2 percent degrowth quarter-on-quarter (growth of 20.1 percent year-on-year) in net profit at Rs 300.5 crore.
According to Pabhudas Lilladher, IndusInd Bank to report a 6.8 percent degrowth quarter-on-quarter (growth of 24.8 percent year-on-year) in net profit at Rs 312.2 crore.