Indusind Bank Q4 Results 2022: IndusInd Bank quarterly profit jumps 51% to Rs 1,401 crore

Indusind Bank Q4 Results 2022: IndusInd Bank reported a 51 per cent increase in consolidated net profit at Rs 1,400.64 crore in the three months ended March, the company said in its exchange filings on Friday. The private sector lender had posted a net profit of Rs 926.22 crore in the same quarter of the previous fiscal year.

Indusind Bank Q4 FY 2021-22 Results - Key Highlights

o Net Interest Income (NII) grew by 13% YoY from~ 3,535 crores to Rs 3,985 crores

o NIM improved to 4.20% as compared to 4.13% as at March 31, 2021 and 4.10% as at December 31, 2021.

o Other income grew by 7% Yo Y to Rs I, 905 crores from Rs 1, 780 crores

o Net Profit grew by 51 % YoY from~ 926 crores to Rs 1,401 crores for the quarter ended March 31, 2022. Net profit for the FY 2021-22 grew by 64% to~ 4,805 crores as compared to~ 2,930 crores for FY 2020-21.

o Healthy deposits growth of 15% YoY from Rs 2,55,870 crores to Rs 2,93,349 crores; savings deposits grew by 25% YoY from Rs 71,065 crores to Rs 88,826 crores.

o Gross NPA stands at 2.27%, Net NP A at 0.64% and PCR at 72% as at March 31, 2022

o CRAR as on March 31, 2022 at 18.42% as compared to 17.38 % on March 31, 2021

o Balance sheet footage crossed 4 trillion mark as at March 31, 2022

o Board recommends dividend of Rs 8.5 per share (85%) for FY 2021-22. 

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Shares of Indusind Bank today ended at Rs 977.50 on the NSE and were down nearly 1 per cent from the previous closing price. 

Wipro Q4 result quote by: Ashis Dash, Research Analyst at Sharekhan by BNP Paribas 

Wipro has reported in-line revenue performance, while IT EBIT margin missed our estimates. Further, the company’s growth guidance for Q1FY2023 remained below expectations. The company’s revenue growth was led by strong growth in manufacturing, consumer, technology and BFSI vertical. EBIT margin of IT services contracted 60bps q-o-q to 17.6%, below our estimates, owing to supply-side issues and lower utilisation.

Company provided strong revenue growth guidance of 1% to 3% on q-o-q for Q1FY2023, below our expectations. This guidance does not include the impact of Rizing Intermediate acquisition. The company’s deal ACVs grew by 30% y-o-y in FY2022, while the company’s deal TCV’s during the quarter declined 33% q-o-q in Q4FY2022. Management indicated that it would 2x its fresher hiring on y-o-y in FY2023E. Attrition rate inched by 110bps q-o-q to 23.8% in Q4. The company has missed on both operating profitability and revenue growth guidance. We have Hold rating on Wipro.