IndusInd Bank gains after good Q3 outcome

After the result announcement, the stock rose as much as 1.38% in intraday on Wednesday, 9 January 2013, but closed down by 0.14% at Rs 434.20 that day.

Meanwhile, the BSE Sensex was up 31.27 points, or 0.16%, to 19,697.86.

On BSE, 86,000 shares were traded in the counter as against an average daily volume of 1.73 lakh shares in the past one quarter.

The stock hit a high of Rs 445 so far during the day, which is also a record high for the counter. The stock hit a low of Rs 437 so far during the day. The stock had hit a 52-week low of Rs 241.50 on 9 January 2012.

The stock had outperformed the market over the past one month till 9 January 2013, rising 5.54% compared with the Sensex's 1.25% rise. The scrip had also outperformed the market in past one quarter, gaining 18.41% as against Sensex's 4.65% rise.

The large-cap private sector bank has equity capital of Rs 522.13 crore. Face value per share is Rs 10.

IndusInd Bank's net profit rose 29.76% to Rs 267.27 crore on 30.3% growth in total income to Rs 2156.29 crore in Q3 December 2012 over Q3 December 2011.

The bank's net interest income (NII) rose 34% to Rs 577.80 crore in Q3 December 2012 over Q3 December 2011. Operating profit rose 35% to Rs 472.16 crore in Q3 December 2012 over Q3 December 2011.

Net interest margin (NIM) was at 3.46% in Q3 December 2012 as against 3.25% in the Q2 September 2012.

Other income grew by 34% to Rs 355.80 crore in Q3 December 2012 over Q3 December 2011. CASA (Current Accounts- Savings Accounts) Ratio rose to 28.67%.

As on 31 December 2012, the total advances were at Rs 42426 crore and total deposits were at Rs 51098 crore, showing a year-on-year growth of 31% and 26% respectively.

IndusInd Bank's ratio of net non-performing assets to net advances stood at 0.30% as on 31 December 2012, higher than 0.29% as on 30 September 2012 and 0.29% as on 31 December 2011.

The bank's ratio of gross non-performing assets (NPA) to gross advances stood at 0.99% as on 31 December 2012, lower than 1.02% as on 30 September 2012 and 1.03% as on 31 December 2011.

Provisions and contingencies rose 83.7% to Rs 78.68 crore in Q3 December 2012 over Q3 December 2011. The provisioning coverage ratio as on 31 December 2012 stood at 70.30%.

The bank's Capital Adequacy Ratio (CAR) as per Basel II norms stood at 15.01% as on 31 December 2012, higher than 13.43% as on 30 September 2012 and 11.76% as on 31 December 2011

Branch network increased from 365 and 674 ATMs in the previous year to 461 branches and 852 ATMs spread over 320 geographical locations as on 31 December 2012.

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