INDUSIND BANK = QUARTERLY RESULTS = Q3 FY 2011 ( Q/E DECEMBER, 2010) = NET PROFIT UP BY 74.76% OVER Q3 FY10. = FUTURE HIGHLY PROMISING

INDUSIND BANK LTD

Q3 FY 2011 RESULTS

QUARTER ENDING 31.12.2010

INDUSIND BANK has produced excellent improvement in its  Q3 results over the preceding and the corresponding quarters.

INTEREST  ON ADVANCES : is Rs.723 cr – up by 6.8% from Q2; Up by 19.56% from Q1; up by 29.64% ; and up by a good 34.11% from the corresponding quarter of Q3 FY 2010.

Income on Investments : is Rs.187 Cr -  up by 6.99% from Q2; Up by 13.97% from Q1;  up by 19.27% from Q4 FY10; and up by a good 29.9% from Q3 FY 10.

Total Interest Earned : Rs.915 Cr – up by 7.12% from Q2; up by 18.58% from Q1; up by 27.03% from Q4 FY 10; and up by a good 30.16% from Q3 FY 10.

Total Income is Rs.1111 Cr – up by 7.93% from Q2; Up by 19.13% from Q1; Up by 30.3% from Q4 FY 10; and up by a good 35.65% from Q3 FY 10.

Net Interest Income : is Rs.363 Cr – up by 10.09% from Q2; Up by 22.77% from Q1; Up by 33.07% from q4 fy 10; AND up BY A HUGE 52.71% from the corresponding quarter of Q3 FY 10.

Operating Profit : is Rs.291 Cr – up by  11.2% from Q2; Up by 26.27% from Q1; Up by a good 45.24% from Q4 of FY10; and Up by a HUGE 67.56% from the corresponding qtr of Q3 FY10.

Provisions : is Rs.56 Cr – against Rs.57 Cr in preceding qtr and Rs.45 Cr in corresponding qtr.

NET PROFIT : is  Rs.154 Cr – up by 15.55% from Q2; Up by 29.78% from Q1; Up by an excellent 57.06% from Q4 of FY10; and up by a HUGE 74.76% from the corresponding qtr of Q3 of FY10.

Capital Adequacy Ratio is very good at 15.61.

BASIC EPS : is Rs.3.32 – up by 3.43% from Q2; up by 14.88% from Q1; up by 38.91% from Q4 of FY10; and up by a Huge 54.42% from Q3 of FY10.

% of Gross/Net NPA is  down to  0.36 against 0.36 in Q2;   0.38 in Q1;   0.5 in Q4 of FY10 and   0.67 in Q3 of FY10. This indicates that the asset quality is very good and is improving further.

Return on Assets is quite good at 1.54 – against 1.38  in Q2;  1.33 in Q1;  1.16 in Q4 of FY10; and 1.08 in Q3 of FY 10.

PE RATIO : By the present trend of results, the annualized EPS is likely to be above Rs.12.74. Current MP is Rs.238. Hence PE Ratio is around 18.68.

At the current Rate of progress of over 50% on all important parameters over the corresponding quarter (of Q3 FY10), and  considering its CAR, asset quality and return on assets, which reflect consistent improvement every quarter,  the Bank is likely to scale new heights in coming quarters.

RESULTS IN FIGURES :

INDUSIND BANK	31-Dec-10	30-Sep-10	30-Jun-10	31-Mar-10	31-Dec-09
Interest on Advances	72308	67706	60477	55777	53915
DIF %1	723	6.8	19.56	29.64	34.11
Income on Investments	18743	17519	16445	15715	14429
DIF %2	187	6.99	13.97	19.27	29.9
Income on Balances With RBI	433	178	105	161	314
Others	7	5	127	368	1634
Interest Earned	91491	85408	77154	72021	70292
DIF %3	915	7.12	18.58	27.03	30.16
Other Income	19595	17512	16096	13236	11602
Total Income	111086	102920	93250	85257	81894
DIF %4	1111	7.93	19.13	30.3	35.65
Interest Expended	55191	52435	47586	44742	46522
NII	36300	32973	29568	27279	23770
DIF %5	363	10.09	22.77	33.07	52.71
Employees Cost	9795	9544	8904	7793	7299
Other Operatng Expenses	16982	14756	13699	12674	10695
Operatng Expenses	26777	24300	22603	20467	17994
Operating Profit	29118	26185	23061	20048	17378
DIF %6	291	11.2	26.27	45.24	67.56
Provisions	5619	5671	4874	5314	4451
Profit before tax	23499	20514	18187	14734	12927
Tax Expense	8113	7199	6332	4938	4123
Net Profit	15386	13315	11855	9796	8804
DIF %7	154	15.55	29.78	57.06	74.76
Face Value(in Rs.)	10	10	10	10	10
Paid-up Equity	46510	46141	41106	41065	41014
Reserves	-	-	-	175495	-
Dividend (%)	-	-	-	18	-
Capital Adequacy Ratio	15.61	16.22	13.71	15.33	13.84
Basic EPS	3.32	3.21	2.89	2.39	2.15
DIF %8	3.32	3.43	14.88	38.91	54.42
Diluted EPS	3.25	3.12	2.81	2.34	2.15
% of Gross/Net NPA	0.36	0.36	0.38	0.5	0.67
Return on Assets	1.54	1.38	1.33	1.16	1.08
Public holding (%)	80.43	80.27	77.85	77.83	77.8

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