IndusInd Bank gains after good Q4 result

IndusInd Bank rose 1.01% to Rs 489.05 at 14:31 IST on BSE after net profit rose 28.83% to Rs 396.05 crore on 23.35% increase in total income to Rs 2702.19 crore in Q4 March 2014 over Q4 March 2013.

The bank announced the result during market hours today, 16 April 2014.

Meanwhile, the BSE Sensex was down 139.87 points, or 0.62%, to 22,345.06

On BSE, so far 2.81 lakh shares were traded in the counter, compared with an average volume of 2.13 lakh shares in the past one quarter.

The stock hit a high of Rs 494.80 and a low of Rs 483.80 so far during the day. The stock hit a record high of Rs 530.60 on 27 May 2013. The stock hit a 52-week low of Rs 318 on 28 August 2013.

The stock had outperformed the market over the past one month till 15 April 2014, rising 3.48% compared with the Sensex's 3.10% rise. The scrip also outperformed the market in past one quarter, surging 14.13% as against Sensex's 5.62% rise.

The large-cap bank has an equity capital of Rs 525.45 crore. Face value per share is Rs 10.

IndusInd Bank's ratio of gross non-performing assets (NPAs) to gross advances fell to 1.12% as on 31 March 2014 from 1.18% as on 31 December 2013 and rose from 1.03% as on 31 March 2013. The ratio of net NPAs to net advances rose to 0.33% as on 31 March 2014 from 0.31% as on 31 December 2013 and 0.31% as on 31 March 2013.

The bank's provisions and contingencies rose 47.28% to Rs 120.55 crore in Q4 March 2014 over Q4 March 2013.

The bank's capital adequacy ratio (CAR) as per Basel II norms improved to 13.96% as on 31 March 2014, from 12.98% as on 31 December 2013 but worsened from 15.36% as on 31 March 2013.

IndusInd Bank's net profit rose 32.68% to Rs 1408.02 crore on 21.54% increase in total income to Rs 10144.06 crore in the year ended 31 March 2014 over the year ended 31 March 2013.

IndusInd Bank caters to the needs of both consumer and corporate customers. Its technology platform supports multi-channel delivery capabilities.

Powered by Capital Market - Live News