IndusInd Bank - Q1FY14 Result First-Cut - Microsec

IndusInd Bank Ltd announced its Q1FY14 result on 10th July 2013.

The bank's total income increased by 11.75% QoQ and 43.25% YoY to INR1150.09 crores, driven by robust YoY growth in its Net Interest Income (NII) and Other Income by 40.36% and 47.63% respectively. Whereas, Profit After Tax (PAT) increased by 8.93% QoQ and 41.73% YoY to INR334.84 crores. During the quarter, bank has increased its provision by 61.34% QoQ and 146.84% YoY to INR132.06 crores.

Bank's loans book and total deposits expanded by 27.33% and 23.48% YoY to INR47425 and INR55660 crores respectively. On the asset quality front, bank's NNPA decreased by 10bps QoQ and 6bps YoY to 0.21% whereas, GNPA increased by 3bps QoQ and 9bps YoY to 1.06%. Bank is well capitalized to support its growth trajectory with 14.42% of its Capital Adequacy Ratio (CAR) which is 5.42% higher than the regular's stipulated norm. Bank has also improved its low cost deposits base (CASA) by 70bps QoQ and 210bps YoY to 30%, which lead to improve its Net Interest Margin (NIM) by 2bps QoQ and 26bps YoY to 3.72%. Moreover, bank is in well position to tame may time liabilities with ~80% of its Provision Coverage Ratio (PCR).

Source : Equity Bulls

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