IndusInd Bank Q1 Results FY2023, PAT at Rs. 1631 crores

IndusInd Bank Q1 Results FY2023

by Shreya Anaokar Last Updated: Dec 14, 2022 - 05:34 pm 22k Views
Listen icon

On 20th July 2022, IndusInd Bank announced its quarterly results for the first quarter of FY2023

Q1FY23 Key Highlights:

- Net Interest Income (NII) grew by 16% YoY to Rs. 4,125 crores in Q1FY23 from Rs. 3,564 crores in Q1FY22

- In Q1FY23, other income grew by 12% YoY to Rs.1,932 crores from Rs.1,723 crores 

- The bank reported a Net Profit of Rs. 1,631 crores with a growth by 61% YoY 

 

Business Highlights:

-The bank’s deposits grew by 13% YoY to Rs. 3,02,719 crores from Rs. 2,67,233 crores 

- Pre Provision Operating Profit (PPOP) was reported at Rs. 3,431 crores for Q1FY23 registered a growth of 10% over the corresponding quarter of the previous year at Rs. 3,121 crores. PPOP / Advance ratio for the quarter ended June 30, 2022, steady at 5.70%. 

- Balance sheet footage for Q1FY23, was Rs. 4,10,100 crores as against Rs. 3,72,996 crores in Q1FY22, showing a growth of 10%. 

- CASA deposits increased to Rs. 1,30,508 crores with Current Account deposits at Rs. 35,265 crores and Savings Account deposits at Rs. 95,243 crores. CASA deposits comprised 43% of total deposits in Q1FY23. 

- Advances in Q1FY23, were at Rs. 2,47,960 crores as against Rs. 2,10,727 crores, an increase of 18% in Q1FY22. 

- The loan book quality remains stable. The Gross NPA was at 2.35% of gross advances in Q1FY23, as against 2.27% in Q4FY22. Net Non-Performing Assets were 0.67% of net advances in Q1FY23 compared to 0.64% in Q4FY22.

- The Bank's Total Capital Adequacy Ratio as per Basel III guidelines improved to 18.14% Q1FY23, as compared to 17.57% Q1FY22. Tier I CRAR was at 16.55% Q1FY23, compared to 16.87% Q1FY22. Risk-Weighted Assets were at Rs. 3,03,118 crores as against Rs. 2,72,367 crores a year ago. 

- In Q1FY23, the Bank's distribution network included 2,286 branches/banking outlets and 2,783 onsite and offsite ATMs, as against 2,015 branches/banking outlets and 2,870 onsite and offsite ATMs in Q1FY22. The client base stood at 32 million Q1FY23. 

 

Commenting on the performance, Mr. Sumant Kathpalia, Managing Director & CEO, Induslnd Bank said: "The Q1FY23 witnessed turbulent operating environment with interlinkages of inflation, reversal of accommodative monetary policy and Russia-Ukraine conflict playing out. The first quarter of a financial year is also a seasonally weak quarter for some businesses. The Bank has nevertheless focussed on delivering on its strategic ambitions. Our loan growth has accelerated to 18% from 12% last quarter. Our vehicle and microfinance had the best Q1 disbursements in their history. Consumer and Corporate segments maintained steady growth. Retailisation of liabilities continues with a 16% growth in CASA, and a 17% growth in Retail deposits as per LCR resulting in overall deposit growth of 13%. All key profitability metrics across NIMs, core PPOP margin, RoA, and RoE have maintained a positive trajectory. This resulted in profit after tax for the quarter at Rs. 1,631 crores growing by 61% YoY and 16% QoQ." 

 

Share Market Today


How do you rate this article?

or

Start Investing in 5 mins*

Rs. 20 Flat Per Order | 0% Brokerage

378X91-D3

About the Author

Shreya Anaokar is a Content Writer at 5paisa. She has completed her Master’s in Finance and Graduation in Statistics from the University of Mumbai. 

Disclaimer

Investment/Trading is subject to market risk, past performance doesn’t guarantee future performance. The risk of trading/investment loss in securities markets can be substantial. Also, the above report is compiled from data available on public platforms.
Open Free Demat Account
Resend OTP
Please Enter OTP
Mobile No. belongs to

By proceeding, you agree to the T&C.

Latest News
Marinetrans India IPO lists 15.38% higher and hits upper circuit

Premium listing for Marinetrans India IPO, then upper circuit

Net Avenue Technologies IPO lists 133.33% up but later hits -5% circuit

Strong listing for Net Avenue Technologies IPO, then lower circuit

What you must know about India Shelter Finance IPO?

India Shelter Finance Corporation Ltd was incorporated in 1998 and offers small and mid-ticket home loans. These loans are typically in the size of ₹5 lakhs to ₹50 lakhs. It provides home loans for construction, purchase, extension and also for renovation.