INDUSIND BANK = QUARTERLY / ANNUAL RESULTS = Q4 & FY 2011 = NET PROFIT UP BY 75.34% YOY = EXCELLENT PERFORMANCE = FUTURE HIGHLY PROMISING

IndusInd Bank Limited

NSE Symbol        INDUSINDBK

INDUSIND BANK has declared its 4^th quarter and FY 2011 results, which are reviewed below :

Interest on Advances is Rs.829.71 Cr which is up by 14.75% from previous qtr ending dec,2010 (Q3); up by 22.55% from Q2 ending Sep’10; up by 37.19% from q1 ending June 2010; and up by 48.75% from corresponding qtr ending March 2010 (Q4 FY 10). On an annualized basis (Q4 x 4), it is also higher by 17.08% compared to the total FY 2011 figures.

Income on Investments is Rs.206.23 cr –up by 10.03% from Q3 FY 11; up by 17.72% from Q2 FY 11; up by 25.41% from Q1 FY 11; Up by 31.23% from Q4 FY 10; and up by 12.49% from FY 2011 total on annualized basis.

Total Income is Rs.1230.47 cr – up by  10.77% fromQ3 FY 11; up by 19.56% from Q2 FY 11;  up by 31.95% from Q1 FY 11; up by 44.32% from Q4 FY 10; and up by 14.38% from FY 11 total on annualized basis.

NII (interest earned – expended) is Rs.388.08 cr – up by 6.91% from Q3; up by 17.7% from Q2; up by         31.25% from Q1; up by 42.26% from Q4 FY 10; and up by 12.77% from FY 11 total , on annualized basis.

Operating Profit is Rs.298.03 Cr – up by 2.35% from Q3; up by 13.82% from Q2; up by 29.24% from Q1; up by 48.66% from Q4 FY 10; and up by 10.21% from FY 11 total on annualized basis.

Provisions is pegged at Rs.40.25 cr – which is fairly less than previous 4 qtrs. For FY 11, the total is Rs.201.89 cr.

Profit before tax is Rs.257.78 cr – up by 9.7% from Q3;  up by 25.66% from Q2; up by 41.74% from Q1; and up by 74.96% from Q4 FY 10. On annualized basis, it is up by 17.2% from FY 2011 totals.

Net Profit  is Rs.171.76 cr – up by 11.63% from Q3; up by    29% from Q2; up by 44.88% from Q1; up by 75.34% from Q4 FY 10; On annualized basis, it is up by 19.01% from FY 2011 totals. The 75% increase in NPT over corresponding qtr of FY 10 is quite impressive.

Reserves have almost doubled to Rs.3358.90 cr – from last year’s Rs.1754.95 cr.

Capital Adequacy Ratio is comfortable at 15.89.

Basic EPS in Q4 is Rs.3.69 – against Rs.3.32 in Q3; Rs.3.21 in Q2; Rs.2.89 in Q1; Rs.2.39 in Q4 FY 10; and Rs.13.16 in FY 2011 total. On annualized basis, Q4 EPS x 4  works out to Rs.14.76 p.a. It can be expected to go up QOQ further, looking at past consistent improvement.

% of Gross/Net NPA is further down to 0.28, from last Qtr’s 0.36 and corresponding qtr (Q4 FY 10)’s 0.5, indicating a good improvement in asset quality.

Return on Assets has further improved to 1.55      from last qtr’s 1.54 and Q4 FY 10’s 1.16.

Thus, compared to corresponding qtr of last year – there has been a huge improvement in the performance in this quarter.

Current MP is Rs.274. On the annualized Q4 EPS of 14.76, it gives a PE Ratio of 18.56. IndusInd Bank can be expected to improve its performance every Qtr, in future also consistently.

RESULTS TABLE : 

indusind bank	31-Mar-11	31-Dec-10	30-Sep-10	30-Jun-10	31-Mar-10	FY 2011
Interest on Advances	82971	72308	67706	60477	55777	283461
Income on Investments	20623	18743	17519	16445	15715	73330
Income on Balances With RBI	348	433	178	105	161	1064
Others	942	7	5	127	368	1081
Interest Earned	104884	91491	85408	77154	72021	358936
Other Income	18163	19595	17512	16096	13236	71366
Total Income	123047	111086	102920	93250	85257	430302
Interest Expended	66076	55191	52435	47586	44742	221287
NII	38808	36300	32973	29568	27279	137649
Employees Cost	10022	9795	9544	8904	7793	38265
Other Opertng Expenses	17146	16982	14756	13699	12674	62583
Operatg Expenses	27168	26777	24300	22603	20467	100848
Operating Profit	29803	29118	26185	23061	20048	108167
Provisions	4025	5619	5671	4874	5314	20189
Profit before tax	25778	23499	20514	18187	14734	87978
Tax Expense	8602	8113	7199	6332	4938	30246
Net Profit	17176	15386	13315	11855	9796	57732
Face Value (in Rs.)	10	10	10	10	10	10
Paid-up Equity	46597	46510	46141	41106	41065	46597
Reserves	335890	-	-	-	175495	335890
Capital Adequacy Ratio	15.89	15.61	16.22	13.71	15.33	15.89
Basic EPS	3.69	3.32	3.21	2.89	2.39	13.16
Diluted EPS	3.62	3.25	3.12	2.81	2.34	12.88
Gross/Net NPA	7282	9099	8373	8249	10183	7282
% of Gross/Net NPA	0.28	0.36	0.36	0.38	0.5	0.28
Return on Assets	1.55	1.54	1.38	1.33	1.16	1.46
Public holding (%)	80.46	80.43	80.27	77.85	77.83	80.46

ANNOUNCEMENTS TO NSE

18-04-2011        the Bank's Register of Members and Share Transfer Books shall remain closed from July 05, 2011 to July 15, 2011 (both days inclusive) for the purpose of Annual General Meeting scheduled to be held on July 15, 2011 and for payment of dividend @ Rs. 2.00 per equity share for the financial year ended March 31, 2011, if approved at the ensuing Annual General Meeting of the Bank.

18-04-2011        the Board of Directors of the Bank at their meeting held on April 18, 2011 have approved recommending of dividend @ Rs.2.00 per equity share of paid up value of Rs.10/-.The dividend shall be paid out by July 19, 2011.

18-04-2011        standalone Results for the year ended on 31-MAR-2011 as follows: Interest earned of Rs. 358936 lacs for the year ending on 31-MAR-2011 against Rs. 270699 lacs for the year ending on 31-MAR-2010. Interest expended of Rs. 221287 lacs for the year ending on 31-MAR-2011 against Rs. 182058 lacs for the year ending on 31-MAR-2010. Net Profit / (Loss) of Rs. 57732 lacs for the year ending on 31-MAR-2011 against Rs. 35031 lacs for the year ending on 31-MAR-2010.

11-04-2011        "IndusInd Bank enters into an agreement to acquire Deutsche Bank's credit card business in India".

29-03-2011        "IndusInd Bank awarded the 'Most Improved Bank Performance of the Year'".

11-03-2011        "IndusInd Bank bags the IBA award for 'Best use of technology in E-learning - 2010".

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