IndusInd Bank Q3FY18 results meet estimates

IndusInd Bank Q3FY18 results meet estimates

Rohan Takalkar
/ Categories: Trending, Markets

IndusInd Bank reported its quarterly results which were in-line with street estimates for Q3FY18.The bank's asset quality weakened while profitability improved on a quarterly basis.

The NII for the quarter rose by 20 per cent yoy to Rs. 1,894 crore compared to Rs. 1,578 crore in the previous year's corresponding quarter. This was largely aided by 16 per cent yoy rise in interest income which stood at Rs. 4,286 crore. On qoq basis NII edged up by 4 per cent due to 2 per cent qoq increase in interest income.

Asset quality for the quarter remained stable over the quarter with GNPA’s advancing by 8 bps over previous quarter, while on yoy basis 24 bps increase was witnessed. The NNPA’s also remained range bound at 0.46 per cent for Q3FY18 compared to 0.44 in Q2FY18. Total GNPA’s for the quarter rose by 54 per cent yoy to Rs. 1,498 crore.

Provisions for the quarter rose by 9 per cent yoy and declined 19 per cent qoq to Rs. 236 crore in Q3FY18. This resulted in 25 per cent yoy to Rs. 936 crore in Q3FY18 compared to Rs. 750 crore in Q3FY17. The bank's capital adequacy remained strong for Q3FY18 at 15.83 per cent compared to 15.31 in the previous year's corresponding quarter.

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