INDUSIND
BANK
 |
| Mr.ROMESH SOBTI, CMD |
Q2 Net Profit up by
30% to 430.20 Cr
Non Interest Income increases by 34%
Core Fee Income increases by 31%
Highlights Q2 FY 2015
Ø Key performance vectors stable
Ø Credit growth up 22%
Ø NIM steady at 3.63%
Ø Non Interest Income up by 34%
Ø Core Fee Income up by 31%
Ø Net Profit up by 30%
Ø Provision coverage ratio at 70.21%
Key Financials: : Q2
FY15 :
Q2 FY14 : YoY growth
: H1 FY15 : H1 FY14 : YoY growth
Net Profit (Rs.Cr):
430.20 330.23 30% 851.26 665.07
: 28 %
NII (Rs cr) :
833.11 699.94 19 % 1633.77 1379.42
: 18 %
Core Fee Income:
509.30 389.48 31 % 995.82 741.05
: 34 %
Non Intst Income
:558.27 416.73 34 % 1134.64 887.34
: 28 %
Key
Ratios:
Particulars
(in %) :
Q2 FY15 : Q2 FY14
Net Interest
Margin : 3.63 3.65
Capital
Adequacy Ratio: 12.96 14.58
Return on
Equity : : 18.24 16.66
Return on
Assets 1.88 1.74
Provision
Coverage Ratio : 70.21 :80.01
Net NPA 0.33 0.22
Ø Net Profit for the quarter was Rs.430.20 Cr as against
Rs. 330.23 Cr in Q2of FY 14 , showing a consistent growth of 30%
Ø Net Interest Income (NII) was Rs. 833.11 Cr as compared
to Rs. 699.94 Cr in Q2 of FY 14 , registering a growth of 19 %
Ø Core Fee Income for the quarter was Rs. 509.30 Cr as
against Rs. 389.48 Cr in Q2 of FY 14 , marking a sustained growth of 31 %
Ø Non Interest Income for the quarter was Rs. 558.27 Cr as
against Rs. 416.73 Cr in Q2of FY 14 , a growth of 34%
Ø Net Interest Margin (NIM) for the current quarter was
3.63 % as against 3.65 % in Q2of FY 14
Performance
highlights
for 6-month period
ended September 30, 2014:
Ø Net Profit for the half-year ended September 30, 2014 was
Rs. 851.26 Cr as against Rs. 665.07 Cr in the corresponding period of previous
year, up by 28%.
Ø Net Interest Income (NII) was Rs. 1633.77 Cr as compared
to Rs. 1379.42 Cr in the corresponding period of FY 14 , up 18%
Ø Core Fee Income was Rs. 995.82 Cr as against Rs. 741.05 Cr
in the corresponding period of FY 14 , showing a consistent growth of 34 %
Ø Non Interest Income was Rs.1134.64 Cr as against Rs.
887.34 Cr in the corresponding period of FY 14 , up by 28 %
Ø The CASA (Current Accounts-Savings Accounts) ratio
improved to 33.89 % against 31.76%
Ø Gross NPA in current Q2 is at 1.08% as against 1.11 % in FY
14 Q2
Ø Increase in branch network from 560 Branches and 1025
ATMs FY 14 to 685 branches and 1277 ATMs
this year as on 30th September, 2014
Ø Total Advances as on September 30, 2014 were at Rs.59,931
Cr as compared to Rs. 48,968 Cr in the corresponding period of FY 14 ,
recording a growth of 22 %
Ø Total deposits as on September 30, 2014 were at Rs.
65,996 Cr as compared to Rs. 53,058 Cr in
the corresponding period of FY 14 , up by 24%
Ø Capital Adequacy Ratio as per BASEL III Capital
regulations as on September 30, 2014 was 12.96 %
Ø Paid up Equity of the Bank stands at Rs.528.29 cr.
Ø Basic EPS on FV of Rs.10 stands at 8.16 & Diluted EPS
stands at Rs.8.02. On an annualized basis, this works out to Rs.32 Plus. At
current price the PE Ratio works out to 19.85.
Commenting
on the performance, Mr. Romesh Sobti , MD & CEO, IndusInd Bank said,
“This quarter, the Bank has sustained its growth momentum in key ratios. The
bank has shown growth in the bottom line resulting from robust improvement in
income streams and active cost management. Digitization of business has become
the central theme of the Bank and this quarter the bank launched its first
digital branch at IndusInd Cyber City, Rapid Metro station. The recent revision
in IndusInd Bank ratings to AA+ signifies steady improvement in the financial
and operational performance of IBL and the positive sentiment among the
investor community.”
About IndusInd Bank
IndusInd Bank, which commenced
operations in 1994, caters to the needs of both consumer and corporate
customers. Its technology platform supports multi-channel delivery capabilities.
As on September 30, 2014, IndusInd Bank has 685 branches, and 1277 ATMs spread
across 464 geographical locations of the country. The Bank also has
representative offices in London, Dubai and Abu Dhabi. The Bank believes in
driving its business through technology. It enjoys clearing bank status for
both major stock exchanges -BSE and NSE - and major commodity exchanges in the
country, including MCX, NCDEX, and NMCE. IndusInd Bank on April 1, 2013 was
included in the NIFTY 50 benchmark index. IndusInd Bank is ranked 19th amongst the
Top 50 Most Valuable Indian Brands 2014 as per the BrandZ Top 50 rankings
powered by the WPP and Millward Brown.
Comments : IndusInd Bank has beaten most of the Market Estimates
in its performance. It is expected to improve its performance further in the
second Half. Its long term Potential is also quite impressive.
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