INDUSIND BANK ANNOUCES GOOD RESULTS FOR Q/E and Y/E 31.03 2010

IndusInd Bank has announced very good results for quarter ending 31st,March,2010. The results indicate very good progress compared to preceding quarters.The figures below are extracted from  NSE website (Figures are in lakhs)

• IndusInd Bank said that it has successfully concluded its Tier-II bond issue of Rs 420 crore on March 30th,2010
• It said it is aiming at a credit growth of 25-30 per cent in current financial year.  
• The bank, which has 210 branches, is planning to open 100 more branches this financial year.  
• The bank`s net profit jumped by 136 per cent to Rs 350.31 crore in FY10 against Rs 148.34 crore in previous fiscal. 
• Its other income touched Rs 553.48 crore in the reporting period against Rs 456.25 crore previous year.
• Its NPAs fell by 0.64 per cent at 0.5 per cent as against 1.14 per cent in the previous fiscal.
• In the overall analysis, IndusInd bank appears to be on excellent Growth path.
• While reasonable efforts are made to present data and analysis with accuracy, before any investment, every investor must re-check the data and also the latest further facts, news etc. 
• Due to space constraint, the last column seems to get cut-off to some extent.This may please be borne in mind.
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Quarter Ended 31-Mar-10 31-Dec-09 30-Sep-09 30-Jun-09 31-Mar-09 Particulars Audited Unaudited Unaudited Unaudited Audited Interest/Discount on Advances/Bills 55777 53915 52437 49167 47884 Income on Investments 15715 14429 12617 13154 12711 Income on Balances With RBI & Other Inter bank Funds 161 314 297 321 501 Others 368 1634 152 241 284 Interest Earned 72021 70292 65503 62883 61380 Other Income 13236 11602 13235 17275 16932 Total Income 85257 81894 78738 80158 78312 Interest Expended 44742 46522 44648 46146 46953 Employees Cost 7793 7299 7885 6079 5156 Other Operating Expenses 12674 10695 10673 10502 11074 Operating Expenses 20467 17994 18558 16581 16230 Total Expenditure excluding provisions and contingencies 65209 64516 63206 62727 63183 Operating Profit before provisions and contingencies 20048 17378 15532 17431 15129 Provisions (Other than tax) & Contingencies 5314 4451 3885 3433 7880 Exceptional Items - - - - - Profit (+)/Loss (-) from Ordinary Activities before tax 14734 12927 11647 13998 7249 Tax Expense 4938 4123 3865 5348 2197 Net Profit (+)/Loss (-) from Ordinary Activities After Tax 9796 8804 7782 8650 5052 Net Profit (+)/Loss (-) for the Period 9796 8804 7782 8650 5052 Face Value of Share (in Rs.) 10 10 10 10 10 Paid-up Equity Share Capital 41065 41014 41009 35519 35519 Reserves Excluding Revaluation Reserves 175495 - - - 107242 Dividend (%) 18 - - - 12 Capital Adequacy Ratio 15.33 13.84 13.51 12.14 12.33 Basic EPS before Extraordinary items 2.39 2.15 2.05 2.44 1.42 Diluted EPS before Extraordinary items 2.34 2.15 2.05 2.44 1.42 Basic EPS after Extraordinary items 2.39 2.15 2.05 2.44 1.42 Diluted EPS after Extraordinary items 2.34 2.15 2.05 2.44 1.42 a) Gross/Net NPA 10183 12873 17177 16655 17913 b) % of Gross/Net NPA 0.5 0.67 0.98 1.01 1.14 c) Return on Assets 1.16 1.08 1.07 1.27 0.76 Public Shareholding (%) 77.83 77.8 77.8 74.37 74.37 Promoter & Promoter group Shares Non-encumbered (as a % total share capital of the company)   22.17 22.2 22.2 - -
I am also reproducing a brief of the  recent announcements made by IndusInd Bank,  below .Further details can be seen at NSE web site: 16-04-2010 : The amalgamation of IndusInd Limited with De Five (Mauritius) Holdings Limited has been approved by the Reserve  Bank of India". 16-04-2010 : Recommended dividend  @ Rs.1.80 per equity share of paid up value of Rs.10/-. 16-04-2010 :  standalone Results for q/e  31-MAR-2010 as follows:  Interest earned of Rs. 72021 lacs for q/e 31-MAR-2010 against Rs. 61380 lacs for q/e 31-MAR-2009.  Interest expended of Rs. 44742 lacs for q/e 31-MAR-2010 against Rs. 46953 lacs for q/e 31-MAR-2009.  Net Profit of Rs. 9796 lacs for q/e 31-MAR-2010 against Rs. 5052 lacs for  q/e 31-MAR-2009. 16-04-2010  standalone Results for Y/E 31-MAR-2010 as follows:  Interest earned of Rs. 270699 lacs for Y/E  31-MAR-2010 against Rs. 230947 lacs for  Y/E 31-MAR-2009.  Interest expended of Rs. 182058 lacs for Y/E 31-MAR-2010 against Rs. 185044 lacs for Y/E 31-MAR-2009.  Net Profit of Rs. 35031 lacs for Y/E 31-MAR-2010 against Rs. 14834 lacs for Y/E 31-MAR-2009. 15-04-2010 :  Two wholly-owned subsidiaries of I ndusInd International Holdings Ltd, the  promoter of the Bank, are having shareholdings  in the Bank as under:- IndusInd Ltd :  1,55,00,000 shares; De Five (Mauritius) Holdings  Ltd : 70,00,000 shares. Further, the Bank  has informed, the amalgamation of De Five  Mauritius Holdings Ltd, with IndusInd Ltd.  The Bank has  informed that, if the  request is approved by Reserve Bank  of India, the shareholdings of IndusInd Ltd in the Bank would increase to  2,25,00,000 shares, comprising  5.48% of the Bank's Equity Capital. 08-04-2010  :  IndusInd Bank raises Rs. 420 crore through Tier- II bond issue  Note :  At the annual EPS of 9.01 and current market  price of  Rs.177, the P/E ratio works out  to 19.67. While current price appears to be f air, since the Bank is forecasting a scorching  pace of Growth in coming Qtrs, depending  upon success of these future plans,  the bank will deserve much Higher valuations.  Its next Qtrly result will be keenly watched.  Current Management seems to be able pull  out High Growth Rates for the Bank.