IndusInd Bank surges 5% as Q4 profit zooms 51% YoY

NEW DELHI: Shares of IndusInd Bank jumped 4.9 per cent in early trade as the private sector lender reported a strong set of earnings in the fourth quarter of the previous financial year.

The leading private lender reported a 51 per cent jump in consolidated net profit to Rs 1,401 crore in the March 2022 quarter, mainly due to lower provisioning.

The private sector lender's post-tax profit was Rs 4,805 crore for fiscal 2021-22, up from Rs 2,930 crore.


IndusInd Bank’s scrip rose to a high of Rs 1,025.95 as against Rs 978.20 at previous close on the BSE.

On a standalone basis, net profit for March quarter jumped 55.41 per cent year-on-year (YoY) to Rs 1,361.37 crore compared with Rs 875.95 crore in the corresponding quarter last year. The bank's board announced a dividend of Rs 8.50 per share.

Interest earned for the quarter rose 5.93 per cent YoY to Rs 7,859.89 crore compared with Rs 7,419.36 crore in the same quarter last year.

Gross non-performing assets (NPA) for the quarter came in at 2.27 per cent compared with 2.48 per cent in December quarter and 2.67 per cent in the same quarter last year.

The bank made provisions and contingencies of Rs 1,463.52 crore compared with Rs 1,654 crore in December quarter and Rs 1,865.69 crore in the year ago quarter.

Reports quoted IndusInd Bank’s Managing Director and CEO Sumant Kathpalia as saying that all retail products saw the highest levels of disbursements ever for the bank during the quarter and corporate loans also maintained a steady momentum, led by small companies.

“Strong retail disbursements and falling costs of deposits helped improve our net interest margin to 4.2 per cent from 4.1 per cent. Overall, our profit margins remain healthy at 5.8 per cent for the quarter,” Kathpalia was quoted as saying.