INDUSIND BANK LTD - RESULTS FOR Q2 FY 2013-14 - EXCELLENT YoY - FUTURE EXPECTED TO BE MUCH BETTER

INDUSIND BANK

Q2 FY 2013-14

Q E SEP 2013

Results in Tabular Form

As can be seen from the Table Below, IndusInd Bank has performed excellently on a YoY Basis, compared to the Q/e Sep,2012. Net Profit is more by 32% YoY.

But, at the same time, the sequential performance QoQ with reference to Q1 ending June 13 is slightly less compared to preceding quarters. This is of course, in line with the restrictions and liquidity squeeze imposed by  RBI during Q2. Now, this Liquidity sqeeze stands considerably relaxed. So, we can expect Efficient banks like IndusInd to perform much better in Q3 and Q4.

IndusInd Bank	30-Sep-13	%Dif QoQ	30-Jun-13	31-Mar-13	31-Dec-12	%Dif YoY	30-Sep-12
Total Income	243530	2.2	238281	219066	215629	18.89	204842
Total Expenditure	184738	6.1	174121	164721	168413	13.43	162860
Profit before Intst, Dep. & Taxes	58792	-8.37	64160	54345	47216	40.04	41982
Net Profit	33023	-1.38	33484	30740	26727	31.96	25025
Diluted EPS	6.19	-1.59	6.29	5.78	5.4	18.36	5.23
Interest on Advances	161131	6.6	151159	146150	145481	16.6	138193
Income on Investments	36547	-0.51	36735	33130	32456	12.89	32375
Income on Balances With RBI	4164	26.14	3301	2975	2109	131.2	1801
Others	15	-40	25	22	3	-96.46	424
Interest Earned	201857	5.56	191220	182277	180049	16.82	172793
Other Income	41673	-11.45	47061	36789	35580	30.03	32049
Total Income	243530	2.2	238281	219066	215629	18.89	204842
Interest Expended	131863	6.97	123272	116154	122269	8.24	121820
Net Int Income	69994	3.01	67948	66123	57780	37.32	50973
Employees Cost	20198	4.32	19361	17837	16848	24.64	16205
Other Operating Expenses	32677	3.78	31488	30730	29296	31.58	24835
Operating Expenses	52875	3.98	50849	48567	46144	28.84	41040
Total Expenditure	184738	6.1	174121	164721	168413	13.43	162860
Operating Profit	58792	-8.37	64160	54345	47216	40.04	41982
Provisions	8886	-32.71	13206	8185	7868	81.09	4907
Profit  before tax	49906	-2.06	50954	46160	39348	34.61	37075
Tax Expense	16883	-3.36	17470	15420	12621	40.11	12050
Net Profit	33023	-1.38	33484	30740	26727	31.96	25025
Face Value (Rs)	10	0	10	10	10	0	10
Paid-up Equity	52433.22	0.17	52344	52287	52225	11.63	46972
Reserves	689470	0	689470	0	-		-
Capital Adequacy Ratio	13.64	-5.41	14.42	15.36	15.01	15.99	11.76
Basic EPS	6.3	-1.72	6.41	5.89	5.51	18.2	5.33
Diluted EPS	6.19	-1.59	6.29	5.78	5.4	18.36	5.23
Net NPA	10923.8	7.77	10136	13676	12524	9456.29	114.31
% of Net NPA	0.22	4.76	0.21	0.31	0.3	-24.14	0.29
Return on Assets	1.74	-4.92	1.83	1.77	1.6	11.54	1.56
Public holding (No. of Shares)	444240045	0.2	443350471	442777722	442159106	17.36	378532745

Performance highlights for the quarter

· Net Profit for the quarter was Rs.330.23 crore as against Rs.250.25 crore in the corresponding quarter of the previous year, showing a growth of 32%. (1% QoQ – Due to one off trading Gains in Q1))

· Operating Profit for the quarter was Rs.587.92 crore as against Rs.419.82 crore in the corresponding quarter of the previous year, showing a spectacular growth of 40%. (8% QoQ due to one off Trading Gains in Q1)

· Net Interest Income (NII) was Rs.699.94 crore as compared to Rs.509.74 crore in the corresponding quarter of the previous year, registering robust growth of 37 %.  (3% QoQ)

· Core Fee Income for the quarter was Rs.389.48 crore as against Rs.296.10 crore in the corresponding quarter of the previous year, showing a consistent growth of 32 %. (11% QoQ)

· Non Interest Income for the quarter was Rs.416.73 crore as against Rs.320.49 crore in the corresponding quarter of the previous year, showing a growth of 30%.

· Net Interest Margin (NIM) for the current quarter was 3.65 % as against 3.25% in the corresponding quarter of the previous year.

·       Other Income : Rs.416.73 Cr : 30%b YoY; 11% QoQ

·       Total Business at Rs.1,02,026 Cr.

·       Credit Growth above Industry 24% YoY; 3% QoQ;

·       Net NPA at 0.22% PCR 80%; Restructured Advances 0.31%

·       Credit Cost at 13 bps

·       Loan Growth 24% YoY ( Hoping for 25-30% in 2014-16 cycle)

·       Core Fee Growth : 32%

·       Branch Growth : 30 in Q2

·       Corporate Advances : Rs.24802 Cr = 31% YoY; 3% QoQ;

·       Consumer Fin Advances : Rs.24,166 cr ; 18% YoY; 3% QoQ

·       Deposits : Rs.53,058 Cr; 11% YoY; - 5% QoQ

·       CASA Growth : Rs.16850 cr; 26% YoY; 1% QoQ

·       SA :, Rs.8586 Cr; 62% YoY; 9% QoQ

·       Borrowings :- Rs.13995 Cr ; 107% YoY;  80% QoQ;

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