IndusInd Bank extends gains after announcing good Q3 results

IndusInd Bank rose 1.89% to Rs 1,207.10 at 10:00 IST on BSE after net profit rose 29.19% to Rs 750.64 crore on 22.86% growth in total income to Rs 4716.13 crore in Q3 December 2016 over Q3 December 2015.

The result was announced at the fag end of market hours yesterday, 10 January 2017. The stock had risen 0.19% to settle at Rs 1,161.85 yesterday, 10 January 2017.

Meanwhile, the S&P BSE Sensex was up 151.18 points or 0.56% at 27,050.74.

On the BSE, 83,668 shares were traded on the counter so far as against the average daily volumes of 77,876 shares in the past one quarter. The stock had hit a high of Rs 1,207.10 and a low of Rs 1,186.05 so far during the day. The stock had hit a record high of Rs 1,255.30 on 7 September 2016 and a 52-week low of Rs 799 on 11 February 2016.

The stock had outperformed the market over the past one month till 10 January 2017, gaining 4.49% compared with the Sensex's 0.57% gains. The scrip had, however, underperformed the market in past one quarter, falling 4.89% as against the Sensex's 4.21% fall.

The large-cap bank has equity capital of Rs 597.71 crore. Face value per share is Rs 10.

IndusInd Bank's gross non-performing assets (NPAs) rose to Rs 971.62 crore as on 31 December 2016 as against Rs 899.01 crore as on 30 September 2016 and Rs 681.13 crore as on 31 December 2015. The ratio of gross NPAs to gross advances increased to 0.94% as on 31 December 2016 as against 0.9% as on 30 September 2016 and 0.82% as on 31 December 2015.

The ratio of net NPAs to net advances stood at 1.88% as on 31 December 2016 as against 1.93% as on 30 September 2016 and 1.92% as on 31 December 2015. The bank's provisions and contingencies (excluding tax provisions) rose 22.45% to Rs 216.85 crore in Q3 December 2016 over Q3 December 2015.

IndusInd Bank is a leading private sector bank in India.

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