Indusind Bank Q3FY22 Earnings: Consolidated PAT up 50% YoY on higher deposits; Net NPA at 0.71%

Indusind Bank on Saturday reported consolidated Net Profit at Rs 1,242 cr for the quarter ended 31 December 2021, which was up 50 per cent year-on-year (YoY) from  Rs 830 cr reported by the bank during the corresponding period in FY21. It was up 8 per cent quarter-on-quarter (QoQ), the company said in its filing to exchanges.

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The Net Interest Margins (NIM) improved to 4.10 per cent from 4.07 per cent QoQ, the exchange filing said.

Indusind Bank Q3FY22 Earnings: Key highlights:

1. Meanwhile, the other income grew by 14 per cent to Rs 1,877 cr from Rs 1,646 cr YoY and 2 per cent QoQ
2. Healthy deposits growth of 19 per cent YoY from Rs 2,39,135 cr to Rs 2,84,484 cr
3. Savings deposits grew by 35 per cent YoY from Rs 64,333 cr to Rs 86,615 cr
4. Gross NPA (Non Performing Asstes) stands at 2.48 per cent while Net NPA stood at 0.71 per cent.
5. PCR or Provisioning Coverage Ratio stood at 72 per cent.
6. Capital adequacy ratio or  CRAR as at December 31, 2021 was at 18.06 per cent (including PAT at 19.09 per cent)
7. For the nine months ended December 31, 2021, the Bank earned Total Income (Interest Income and Fee Income) of  Rs 28,465 cr as compared to  Rs 26,301 cr for the corresponding previous nine months, grew by 8per cent YoY.
8. For the nine months ended December 31, 2021, Total expenditure (Interest expended and operating expenses) were  Rs18,749 cr as compared to  Rs 17,558 cr for the corresponding previous nine months, grew by 7 per cent YoY.
9. Net Interest Income for the nine months ended December 31, 2021 increased to  Rs11,016 cr as compared to  Rs 9,993 cr for the corresponding previous nine months, grew by 10per cent YoY.
10. Other income at  Rs 5,503 cr for the nine months ended December 31, 2021, grew by 17per cent over the corresponding previous nine months at  Rs 4,721 cr.
11. Operating expenses for the nine months ended December 31, 2021 were  Rs 6,802 cr as against  Rs 5,971 cr for the corresponding previous nine months, grew by 14 per cent YoY.

Balance Sheet footage as on December 31, 2021 was Rs 3,90,564 cr as against Rs 3,41,446 crores as of December 31, 2020, showing a growth of 14 per cent.