IndusInd Bank Limited
NSE Symbol INDUSINDBK
IndusInd Bank has declared its results for the second qtr Q2 FY 2011.
Total Income has increased handsomely to Rs.1029.20 cr by 10.37% from Rs.932.50cr from previous qtr and by a very good 30.71% ,from Rs,787.38 cr, in the corresponding Qtr.
Net Interest Margin has been very strong at 2.86% (vs 1.68 earlier). The margins are likely to strengthen further in 3rd Qtr.
Net Interest Margin has been very strong at 2.86% (vs 1.68 earlier). The margins are likely to strengthen further in 3rd Qtr.
Net Profit has increased well by 12.32% to Rs.133.15 Cr – from Rs.118.55 in previous Qtr – and by a very handsome 71.1% from Rs.77.82 Cr in the corresponding Qtr.
Paid-up Equity has gone up by 12.25% at the fag end of Q2 to Rs.461.41 cr from the previous Rs.411.06 cr. This increase in equity due to a QIP has resulted in good increase in loanable funds for the bank and this should have a good positive impact on income and profits from next qtrs. In Current Qtr, however, the EPS comes down slightly from what it would have been without this equity increase.
Capital Adequacy Ratio has gone up to a handsome 16.22 from last qtr’s 13.71 – for the same reason as above.
Basic EPS is therefore at 3.21 , 11.07% higher even on the enhanced equity compared to Rs.2.89 in last qtr on lower equity. Even on the higher equity, the Q2 EPS is higher by 56.59% compared to Rs.2.05 in corresponding qtr on lower equity.
% of Gross/Net NPA is further down to 0.36 from last qtr’s 0.38 and from corresponding qtr’s 0.98.
Return on Assets is higher at 1.38 compared to 1.33 in last qtr and 1.07 in corresponding qtr. At this rate of return, the Bank’s performance in future quarters can be quite encouraging.
FUND RAISING vs UTILIZATION PHASES : In all Banks, periodical fund raising by way of equity or otherwise is a must. In fund raising phase, Equity goes up slightly but funds accrue by a much larger extent due to the PREMIUM amount received. Depending on efficiency of funds Utilization, subsequent quarters reflect much larger profits and EPS. It is usually preferable for investors to catch a Bank in the fund raising phase. IndusInd Bank is raising good amount of funds at a good premium and its profitability can be expected to shoot up considerably in coming Qtrs.
However, after the QIP mentioned above, the Bank says - it is unlikely to raise further capital in next 18-24 months. The Bank also says, the margins are likely to remain strong in 3rd quarter. The Bank is planning to add 30 Branches in 3rd Qtr and take the total to 300 this fiscal. This should have a very positive effect on 3rd Qtr results onwards.
One can see that the Bank has ambitious Plans to be among the TOP 3 private Banks in about 3 years.
FUND RAISING vs UTILIZATION PHASES : In all Banks, periodical fund raising by way of equity or otherwise is a must. In fund raising phase, Equity goes up slightly but funds accrue by a much larger extent due to the PREMIUM amount received. Depending on efficiency of funds Utilization, subsequent quarters reflect much larger profits and EPS. It is usually preferable for investors to catch a Bank in the fund raising phase. IndusInd Bank is raising good amount of funds at a good premium and its profitability can be expected to shoot up considerably in coming Qtrs.
However, after the QIP mentioned above, the Bank says - it is unlikely to raise further capital in next 18-24 months. The Bank also says, the margins are likely to remain strong in 3rd quarter. The Bank is planning to add 30 Branches in 3rd Qtr and take the total to 300 this fiscal. This should have a very positive effect on 3rd Qtr results onwards.
One can see that the Bank has ambitious Plans to be among the TOP 3 private Banks in about 3 years.
IndusInd Bank has performed excellently in Q2 FY11 and –next 2 Qtrs of FY11 should be even better.
INDUS IND BANK Q2 FY11 | Sep-10 | Jun-10 | Dif%1 | Sep-09 | Dif%2 |
Interest on Advances | 67706 | 60477 | 11.95 | 52437 | 29.12 |
Income on Investments | 17519 | 16445 | 6.53 | 12617 | 38.85 |
Income on Balan.With RBI | 178 | 105 | 69.52 | 297 | -40.07 |
Others | 5 | 127 | -96.1 | 152 | -96.71 |
Interest Earned | 85408 | 77154 | 10.7 | 65503 | 30.39 |
Other Income | 17512 | 16096 | 8.8 | 13235 | 32.32 |
Total Income | 102920 | 93250 | 10.37 | 78738 | 30.71 |
Interest Expended | 52435 | 47586 | 10.19 | 44648 | 17.44 |
Employees Cost | 9544 | 8904 | 7.19 | 7885 | 21.04 |
Other Operating Exp | 14756 | 13699 | 7.72 | 10673 | 38.26 |
Operating Expenses | 24300 | 22603 | 7.51 | 18558 | 30.94 |
Operating Profit | 26185 | 23061 | 13.55 | 15532 | 68.59 |
Provisions | 5671 | 4874 | 16.35 | 3885 | 45.97 |
Profit before tax | 20514 | 18187 | 12.79 | 11647 | 76.13 |
Tax Expense | 7199 | 6332 | 13.69 | 3865 | 86.26 |
Net Profit After Tax | 13315 | 11855 | 12.32 | 7782 | 71.1 |
Net Profit | 13315 | 11855 | 12.32 | 7782 | 71.1 |
Face Value | 10 | 10 | 0 | 10 | 0 |
Paid-up Equity | 46141 | 41106 | 12.25 | 41009 | 12.51 |
Reserves | - | - | - | ||
Dividend (%) | - | - | - | ||
Capital Adequacy Ratio | 16.22 | 13.71 | 18.31 | 13.51 | 20.06 |
Basic EPS B EI | 3.21 | 2.89 | 11.07 | 2.05 | 56.59 |
Diluted EPS B EI | 3.12 | 2.81 | 11.03 | 2.05 | 52.2 |
Basic EPS A EI | 3.21 | 2.89 | 11.07 | 2.05 | 56.59 |
Diluted EPS A EI | 3.12 | 2.81 | 11.03 | 2.05 | 52.2 |
Gross/Net NPA | 8373 | 8249 | 1.5 | 17177 | -51.25 |
% of Gross/Net NPA | 0.36 | 0.38 | -5.26 | 0.98 | -63.27 |
Return on Assets | 1.38 | 1.33 | 3.76 | 1.07 | 28.97 |
Public Shareholding (%) | 80.27 | 77.85 | 3.11 | 77.8 | 3.17 |
ANNOUNCEMENTS TO
EXCHANGE
11-10-2010 IndusInd Bank Limited has informed the Exchange regarding the standalone Results for the quarter ended on 30-SEP-2010 as follows: Interest earned of Rs. 85408 lacs for the quarter ending on 30-SEP-2010 against Rs. 65503 lacs for the quarter ending on 30-SEP-2009. Interest expended of Rs. 52435 lacs for the quarter ending on 30-SEP-2010 against Rs. 44648 lacs for the quarter ending on 30-SEP-2009. Net Profit / (Loss) of Rs. 13315 lacs for the quarter ending on 30-SEP-2010 against Rs. 7782 lacs for the quarter ending on 30-SEP-2009.
27-09-2010 Indusind Bank Limited has informed the Exchange regarding a Press Release dated September 27, 2010, titled "IndusInd Bank raises USD 253 million through QIP".
SEE PREVIOUS REVIEW ON INDUSINDBANK AT
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