IndusInd Bank gains after rise in Q4 NIM

IndusInd Bank rose 1.49% to Rs 986.10 at 11:59 IST on BSE after the bank's net interest margin rose 26 basis points on year-on-year basis to 3.94% in Q4 March 2016.

Meanwhile, the BSE Sensex was down 13.35 points, or 0.05%, to 25,867.03 .

On BSE, so far 46,000 shares were traded in the counter, compared with an average volume of 1.32 lakh shares in the past one quarter. The stock hit a high of Rs 988.50 and a low of Rs 972.25 so far during the day. The stock hit a 52-week high of Rs 995.30 on 21 April 2016. The stock hit a 52-week low of Rs 784.45 on 12 June 2015. The stock had outperformed the market over the past one month till 21 April 2016, rising 4.21% compared with 2.35% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 11.23% as against Sensex's 8% rise.

The large-cap company has an equity capital of Rs 595 crore. Face value per share is Rs 10.

The private sector bank said that growth in total deposits stood at industry beating 25% in Q4 March 2016. Growth in current and savings accounts (CASA) deposits stood at 29% in Q4 March 2016. The CASA ratio edged up to 35.2% as on 31 March 2016 from 35% as on 31 December 2015. The growth in the bank's loan book stood at industry beating 29% in Q4 March 2016. Shares of IndusInd Bank had lost 1.35% to settle at Rs 971.65 yesterday, 21 April 2016, as the fourth quarter results announced during market hours that day showed increase in the bank's sticky loans.

The bank's gross non-performing assets increased to Rs 776.82 crore as on 31 March 2016, from Rs 681.13 crore as on 31 December 2015 and Rs 562.92 crore as on 31 March 2015. The bank's ratio of gross non-performing assets (NPA) to gross advances stood at 0.87% as on 31 March 2016 as against 0.82% as on 31 December 2015 and 0.81% as on 31 March 2015. The bank's ratio of net NPA to net advances stood at 0.36% as on 31 March 2016 as against 0.33% as on 31 December 2015 and 0.31% as on 31 March 2015.

The bank's provisions and contingencies jumped 98.86% to Rs 213.66 crore in Q4 March 2016 over Q4 March 2015.

IndusInd Bank's net profit rose 25.25% to Rs 620.35 crore on 23.38% growth in total income to Rs 4044.49 crore in Q4 March 2016 over Q4 March 2015.

IndusInd Bank is a leading private sector bank in India.

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