IndusInd Bank Q4: Net profit rises 55% to Rs 1,361 cr, board declares dividend
The bank's interest earned during quarter under review rose 6 per cent to Rs 7,860 crore as compared to Rs 7,419 crore a year ago.
- Apr 29, 2022,
- Updated Apr 29, 2022 6:06 PM IST
IndusInd Bank on Friday reported a 55.3 per cent rise in its consolidated net profit at Rs 1,361 crore for the quarter ended 31 March, 2022. The lender had reported a profit of 876 crore in the year-ago period.
The bank's interest earned during quarter under review rose 6 per cent to Rs 7,860 crore as compared to Rs 7,419 crore a year ago.IndusInd's provisions and contingencies declines 21.5 per cent to Rs 1,464 crore versus Rs 1,866 crore in the same quarter last fiscal.
Net Interest Income (NII) for the said quarter came at Rs 3,985 crore, grew by 13 per cent YoY and 5 per cent QoQ. Net Interest Margin (NIM) stood at 4.20 per cent against 4.13 per cent.
Other income came at Rs 1,905 crore for the March quarter as against Rs 1,780 crore for the corresponding quarter of previous year, grew by 7 per cent YoY. Core fee grew by 9 per cent to Rs 1,644 crore as against Rs 1,508 crore in the corresponding quarter of previous year.
Operating expenses grew 15 per cent to Rs 2,509 crore as against Rs 2,186 crores for the corresponding quarter last fiscal.
The bank's asset quality improved in this quarter. Its gross non-performing assets (NPAs) reduced to 2.27 per cent as against 2.48 per cent in previous quarter (Q3FY22), while net NPA came at 0.64 per cent versus 0.71 per cent in the earlier quarter.
Further, the Board also approved payment of dividend at the rate of Rs 8.5 per equity share of Rs 10 each of the bank, for the Financial Year 2021-22 (85%), subject to approval of the shareholders at the ensuing Annual General Meeting.
The bank’s financial results include the financial results of its wholly owned subsidiary, Bharat Financial Inclusion Limited (BFIL), a business correspondent (BC) of the bank involved in originating small ticket MFI loans for the Bank and IndusInd Marketing and Financial Services Private Limited (IMFS) an associate of the bank.
Shares of IndusInd Bank on Friday closed 0.94 per cent at Rs 978.20 apiece on BSE.
IndusInd Bank on Friday reported a 55.3 per cent rise in its consolidated net profit at Rs 1,361 crore for the quarter ended 31 March, 2022. The lender had reported a profit of 876 crore in the year-ago period.
The bank's interest earned during quarter under review rose 6 per cent to Rs 7,860 crore as compared to Rs 7,419 crore a year ago.IndusInd's provisions and contingencies declines 21.5 per cent to Rs 1,464 crore versus Rs 1,866 crore in the same quarter last fiscal.
Net Interest Income (NII) for the said quarter came at Rs 3,985 crore, grew by 13 per cent YoY and 5 per cent QoQ. Net Interest Margin (NIM) stood at 4.20 per cent against 4.13 per cent.
Other income came at Rs 1,905 crore for the March quarter as against Rs 1,780 crore for the corresponding quarter of previous year, grew by 7 per cent YoY. Core fee grew by 9 per cent to Rs 1,644 crore as against Rs 1,508 crore in the corresponding quarter of previous year.
Operating expenses grew 15 per cent to Rs 2,509 crore as against Rs 2,186 crores for the corresponding quarter last fiscal.
The bank's asset quality improved in this quarter. Its gross non-performing assets (NPAs) reduced to 2.27 per cent as against 2.48 per cent in previous quarter (Q3FY22), while net NPA came at 0.64 per cent versus 0.71 per cent in the earlier quarter.
Further, the Board also approved payment of dividend at the rate of Rs 8.5 per equity share of Rs 10 each of the bank, for the Financial Year 2021-22 (85%), subject to approval of the shareholders at the ensuing Annual General Meeting.
The bank’s financial results include the financial results of its wholly owned subsidiary, Bharat Financial Inclusion Limited (BFIL), a business correspondent (BC) of the bank involved in originating small ticket MFI loans for the Bank and IndusInd Marketing and Financial Services Private Limited (IMFS) an associate of the bank.
Shares of IndusInd Bank on Friday closed 0.94 per cent at Rs 978.20 apiece on BSE.