IndusInd Bank Ltd - Q3FY14 Result First Cut - Microsec

IndusInd Bank Ltd. announced its Q3FY14 result on 10th January 2014.

The Bank's total income increased by 8.39% QoQ and 29.64% YoY to INR1210.35 crores, driven by 26.36% and 34.98% YoY growth in its Net Interest Income (NII) and other income respectively. Whereas, Profit After Tax (PAT) increased by 5.05% QoQ and 29.79% YoY to INR346.90 crores.

During the quarter, the Bank's loans book and total deposits expanded by 23.67% and 10.08% YoY to INR52469 and INR56247 crores respectively. On the asset quality front, Gross NPA and Net NPA deteriorated by 7bps and 9bps QoQ to 1.18% and 0.31% respectively. The Bank has improved its low cost deposits base (CASA ratio) by 40bps QoQ and 349bps YoY to 32.16%. Rise in CASA ratio helped it to improved its Net Interest Margin (NIM) by 19bps YoY to 3.65%. The Bank is well capitalized to support its growth trajectory with 14.38% of its Basel III Capital Adequacy Ratio (CAR).

Source : Equity Bulls

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