IndusInd Bank Q3 Net Profit up by 30% at Rs.581.02 crore

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Highlights Q3 FY 2016

 

  • Key performance vectors stable
  • Net Profit up by 30% at Rs.581.02 crores
  • Core Fee Income  up by 30% at Rs.725.90 crores
  • NIM up by 24bps at 3.91%
  • Non- Interest Income Grows by 29%
  • Total  revenue at Rs 2012.42 crores  is up by 33%

 

 

Mumbai, January 12, 2016: The Board of Directors of IndusInd Bank Ltd., today approved and adopted its Unaudited Financial Results for the third quarter, ended December 31, 2015

 

 

Key Ratios

 

Particulars (in %)Q3 FY16Q3 FY15Q2 FY16
Net Interest Margin (NIM)3.913.673.88
Return on Assets1.921.901.93
Net NPA0.330.320.31
Capital Adequacy Ratio16.4312.3916.52

 

Key Financials:

 

ParticularsQ3 FY16    (Rs in crore)Q3 FY15    (Rs in crore)YoY Growth9months

FY 16

(Rs in crore)

9 months FY15

(Rs in crore)

YoY Growth
Net Profit581.02447.1930%1,666.101,298.4528%
Non -Interest  Income839.00649.0029%2,384.151,848.8929%
Core Fee Income725.90560.5230%2,035.401,621.5926%

 

Performance highlights for the Quarter ended December 31, 2015 are:

 

  • Net Profit for the quarter was Rs. 581.02 crores as against Rs. 447.19 crores in the corresponding quarter of the previous year, showing a growth of 30%
  • Operating Profit for the quarter was Rs. 1,060.98 crores as against Rs. 773.84 crores in the corresponding quarter of the previous year, showing a growth of 37%
  • Net Interest Income (NII) was Rs. 1,173.42 crores as against Rs. 861.37crores in the corresponding quarter of the previous year, registering a growth of 36%
  • Net Interest Margin (NIM) for the current quarter was 3.91 % as against 3.67 % in the Q3 FY15
  • Non Interest  Income grew by 29% to Rs.839.00 crores as against Rs. 649.00  crores in the corresponding quarter of the previous year while core fee grew by 30% to Rs 725.90 crores as against Rs 560.52 crores in the corresponding quarter of the previous year.
  • CASA (Current Accounts- Savings Accounts) Ratio rises to 34.98%

 

Performance highlights for the 9-month period ended December 31, 2015 is:

 

  • Net Profit for the 9-month period ended December 31, 2015 was Rs. 1,666.10 crores as against Rs. 1,298.45 crores in the corresponding period of the previous year, up 28%
  • Operating Profit for the 9-month period ended December 31, 2015 was Rs. 2990.23 crores as against Rs. 2,247.71 crores in the corresponding period of the previous year, up 33%
  • Net Interest Income was Rs. 3,248.36 crores as compared to Rs. 2,495.14 crores in the corresponding period of the previous year, up 30%
  • Total Advances were at Rs. 82,167 crores compared to Rs. 63,847 crores showing a YoY growth of 29 %
  • Total Deposits were at Rs. 86,423 crores compared to Rs 69,376 crores showing a YoY growth of 25%
  • Gross NPA in current Q3 drops to 0.82 % compared to 1.05% for the corresponding period of the previous year.
  • Net NPA as at December 31, 2015 stood at 0.33% as compared to 0.32% for the corresponding period of the previous year
  • Increase in Branch network to 905 branches and 1621 ATMs from  727 and 1350 ATMs for the previous year, spread over 568 geographical locations as on December 31, 2015

 

Commenting on the performance, Mr. Romesh Sobti, MD & CEO, IndusInd Bank said, “Globally as well as in the domestic market, growth continues to be weak.  But against all odds, the Bank has kept faith and shown sustained progress across all vectors. Our Operating Profit rose by 37%, with Core Fee Income at 30% and our NIM improving to a healthy 3.91%.  We will continue to keep our focus on our growth trajectory in these uncertain times.”

 

 

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