InvestorQ : How were the results of IndusInd Bank in the Sep-20 quarter?
Anamika Sodhani made post

How were the results of IndusInd Bank in the Sep-20 quarter?

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Arya Nanda answered.
4 weeks ago
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IndusInd Bank reported net profits of Rs.663 crore for the Sep-20 quarter, sharply lower from the Rs.1,400 crore reported in the Sep-19 quarter. However, markets were happy that they beat the expectations of the analysts.

For the quarter, the total income from business was marginally higher at Rs.8732 crore and the bank had also made COVID-19 provisions of Rs.952 crore in Q2. Net interest income or NII for the quarter was up 12.7% at Rs.3278 crore. The all important net interest margins of the bank or NIM was also marginally up by 6 bps at 4.16%.

Credit growth was quite tepid at around Credit 2% while deposit growth was a lot more impressive at 10%. IndusInd Bank had a comfortable Liquidity Coverage Ratio or LCR of 140%. Even the loan growth was muted at 2.1%, just like deposit growth.

As a percentage of the loan book, the Gross Non Performing Assets or GNPAs for the quarter stood at 2.21%, sharply lower than the 2.53% recorded in the Jun-20 quarter. With higher provisioning, net NPAs also tapered from 0.86% to 0.52%.

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