IndusInd Bank shares rose over 11% in Tuesday's trade after the company announced its Q4 earnings.
On a consolidated basis, the lender reported net profit of Rs 315 crore for the March quarter, down 12.2% year-on-year against Rs 360.10 crore in the same period last year. Company's profit declined 75% sequentially as compared to Rs 1,309 crore recorded in the previous quarter.
Following the result announcement, shares of IndusInd Bank opened with a gain of 9.99% today and later climbed 11.56% to the intraday high of Rs 454.45 on BSE.
On Monday, shares of IndusInd Bank climbed 6.11% intraday and closed at Rs 407.35 on BSE March quarter earnings came in. The stock has gained 16.69% in the last two sessions.
Shares of IndusInd Bank trade higher than 5 and 20-day moving averages but lower than 50, 100 and 200-day moving averages.
The stock price of IndusInd Bank has risen 11.14% in one week and 8.38% in one month.
IndusInd Bank's capital adequacy ratio (CAR) stood at 15.04% at the end of the March quarter, compared to 14.16% in a year-ago period. Lender's net interest margin rose 4.25% in Q4FY20 as against 3.59% recorded in the corresponding period last year.
On a quarterly basis, the bank's gross NPAs rose 12.4% to Rs 5,146.74 crore as compared to Rs 4,578.43 crore in the previous quarter. Meanwhile, its net NPAs fell 13.2% QoQ to Rs 1,886.58 crore from Rs 2,173.3 crore.
Bank's total provisions rose 56% to Rs 2,440 crore in the March quarter from Rs 1,560 crore on a yearly basis. The bank has not declared any dividend out on profit for FY20, as per the filing.
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