IndusInd Bank turns volatile after Q1 earnings

IndusInd Bank lost 0.28% to Rs 550.95 at 14:29 IST on BSE after net profit surged 25.74% to Rs 421.06 crore on 20.6% growth in total income to Rs 2873.68 crore in Q1 June 2014 over Q1 June 2013.

The Q1 result was announced during market hours today, 9 July 2014.

Meanwhile, the S&P BSE Sensex was down 67.17 points or 0.26% at 25,514.94.

On BSE, so far 1.65 lakh shares were traded in the counter as against average daily volume of 1.30 lakh shares in the past one quarter.

The stock was volatile. The stock lost as much as 1.35% at the day's low of Rs 545 so far during the day. The stock rose as much as 1.71% at the day's high of Rs 561.95 so far during the day. The stock had hit a record high of Rs 586.90 on 3 July 2014. The stock had hit a 52-week low of Rs 318 on 28 August 2013.

The stock had outperformed the market over the past one month till 8 July 2014, advancing 1.48% compared with the Sensex's 0.73% rise. The scrip had, however, underperformed the market in past one quarter, jumping 10.85% as against Sensex's 14.49% rise.

The large-cap bank has equity capital of Rs 526.22 crore. Face value per share is Rs 10.

IndusInd Bank's ratio of gross non-performing assets (NPA) to gross advances stood at 1.11% as on 30 June 2014 as against 1.12% as on 31 March 2014 and 1.06% as on 30 June 2013. The ratio of net NPAs to net advances stood at 0.33% as on 30 June 2014 same as 0.33% as on 31 March 2014 and 0.21% as on 30 June 2013.

The bank's provisions and contingencies declined 16.4% to Rs 110.40 crore in Q1 June 2014 over Q1 June 2013.

IndusInd Bank's Capital Adequacy Ratio (CAR) as per Basel III norms stood at 13.11% as on 30 June 2014 as against 13.83% as on 31 March 2014 and 14.85% as on 30 June 2013.

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

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