1. IndusInd Bank Q4 net flat despite income growth; shares fall

IndusInd Bank Q4 net flat despite income growth; shares fall

IndusInd Bank, the sixth-largest private sector lender of India - reported a 25% increase in net profit for the financial year 2016-2017 at Rs 2,867.89 crores.

By: | Published: April 19, 2017 5:28 PM
The bank reported a 22.47% increase in its full-fiscal net income at Rs 18,577.16 crores from the previous year.

IndusInd Bank, the sixth-largest private sector lender of India – reported a 25% increase in net profit for the financial year 2016-2017 at Rs 2,867.89 crores, whereas the net profit for the fiscal fourth quarter was almost flat with a gain of mere 0.12% at Rs 751.61 crores.

The bank reported a 22.47% increase in its full-fiscal net income at Rs 18,577.16 crores from the previous year. Its net income for the fourth quarter rose 6.89% on-quarter to Rs 5,041.31 crores. Similarly, the bank registered a 21% increase in its full-fiscal net interest income to Rs 14,405.67 crores from the last year. Its net interest income for the fiscal fourth quarter rose 11.64% from the previous quarter to Rs 3,830.01 crores.

The operating efficiency of the bank resulted in a 31.62% increase in the operating profit margin at Rs 5,451.01 crores.

There was no phenomenal rise in the NPAs of the bank, the gross non-performing assets stood at 0.97% at Rs 1,054.87 crores of the gross advances, while the net non-performing assets were at 0.39% at Rs 438.91 crores of the net advances for the year ended in March 2017 respectively.

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The loans and advances had grown to the tune of 27% on a year on year basis at Rs 1,13,080.51 crores.

On the other hand, there is a 94% surge in the balances with banks and money at call and short notice at Rs 10,879.5 crores, also cash and balances with the Reserve Bank of India rose 71% at Rs 7,748.75 crores.

The overall deposits for the financial year ended 2017 increased 36% at Rs 1,26,572.22 crores. The bank raised its provisions substantially, doubling it to Rs 430.13 crores in the fourth quarter, and increasing it by 26% for the full year at Rs 1,091.33 crores.

The board of IndusInd Bank has recommended a final dividend of Rs 6 per equity share for 2016-17.

Despite the healthy results, the shares of IndusInd Bank ended lower 0.71% at Rs 1421.6 at NSE. IndusInd Bank shares have returned almost 45% over a year.

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