IndusInd Bank’s Q2FY25 Results
IndusInd Bank’s net revenues grew 10% YoY
- 04 Nov 2024
Read Full Article >
- IndusInd Bank’s net revenues (net interest income plus other income) declined by 1% quarter-on-quarter (QoQ) during the quarter ended Sept (Q2FY25). On a year-on-year (YoY) basis, it witnessed a growth of 10%.
- Its expenses for the quarter were up by 2% QoQ and 17% YoY.
- The bank’s net profit reduced 39% QoQ and 40% YoY.
- The earnings per share (EPS) of IndusInd Bank stood at 17.1 during Q2FY25.
Induslnd Bank's financial statements for Q2FY25:
| (₹, crores) | Q2FY24 | Q1FY25 | Q2FY25 | QoQ (%) | YoY (%) |
|---|---|---|---|---|---|
Total income | 13,529.7 | 14,988.4 | 14,871.3 | -1% | 10% |
Total expenses | 9,621.0 | 11,036.6 | 11,271.4 | 2% | 17% |
Provisions & contingencies | 973.8 | 1,049.8 | 1,820.1 | 73% | 87% |
Profit before tax | 2,934.9 | 2,902.0 | 1,779.7 | -39% | -39% |
Tax | 732.9 | 731.2 | 448.5 | -39% | -39% |
Profit after tax | 2,202.1 | 2,170.7 | 1,331.3 | -39% | -40% |
Earnings per share | 28.3 | 27.9 | 17.1 |
Financials:
- Deposits cross ₹4 trillion mark. It grew by 15% YoY to ₹4,12,317 crores from ₹3,59,548 crores
- Loans grew by 13% YoY to ₹3,57,159 crores from ₹3,15,454 crores
- Net Interest Income (NII) grew by 5% YoY to ₹5,347 crores from ₹5,077 crores
- Net Interest Margin(NIM) was at 4.08% as compared to 4.29% for Q2FY24 and 4.25% for Q1FY25.
- Gross NPA and Net NPA ratios stand at 2.11% and 0.64% as against 1.93% and 0.57% YoY respectively and PCR at 70% as at September 30, 2024
- The Bank, as a prudent measure, increased contingent provision buffer by ₹525 crores during the quarter
- Net Profit was at ₹1,331 crores for Q2-FY25 as compared to ₹2,202 crores at Q2-FY24. Net Profit for Q2-FY25 adjusted for increase in contingent provision buffer was at ₹1,725 crores.
Management Commentary:
Sumant Kathpalia, managing director of IndusInd Bank
- Profit could have been ₹1,733 crore, but a provision of ₹525 crore was made to strengthen the balance sheet.
- Expected to see Net Interest Margins (NIMs) return to 4.2-4.3% if the microfinance book recovers.
- Gross NPA increased to 2.11%, and net NPA rose to 0.64%.
- Maintained ₹1,525 crore in contingent provisions due to the challenging business environment.
- Total loan book grew 13% year-on-year to ₹3.57 lakh crore.
- Slowed down unsecured loans due to rising delinquencies, with higher slippages in the microfinance segment, especially in Bihar, Jharkhand, and Maharashtra.
- Microfinance and vehicle finance portfolios are expected to grow in the second half of the fiscal year.
- Closely monitoring Return on Assets (RoAs), particularly from microfinance and vehicle finance.
- Deposits increased by 15% year-on-year to ₹4.12 lakh crore.
Data Source: BSE, Company announcements and The Economic Times
The securities quoted are exemplary and are not recommendatory. Past performance is not indicative of future results
Open Demat Account
