Numbers were aided by BFIL merger and largely met expectations, but some asset quality stress visible in select segments
The bank had posted a net profit of Rs 1,035 crore in the corresponding period of the preceding fiscal ended March 2019
The merger between the bank and the micro-lender, which will be effective July 4, is accretive from a profit, margin and return on equity perspective
While management has stuck to its earlier guidance, some analysts believe the stressed assets number to be higher
MD says much of the exposure may be recovered via asset sale; Q4 largely satisfactory sans IL&FS impact
Valuations reasonable but analysts have raised questions on bank's asset quality performance
The bank's CAR as on December 2018 stood at 14.19 per cent against 15.83 per cent at the end of the year-ago December quarter
The bank has partnered with Tata AIA for life insurance, Cholamandalam MS for general insurance
FY20 is likely to start on a clean slate with expected traction in loan book and earnings
The bank had earlier stated that it had a total exposure of Rs 3,000 crore against the IL&FS group, of which Rs 2,000 crore is aganst the holding company.
Interest earned rose 34.4 per cent to Rs 57.63 billion
Healthy topline growth, as well as operational parameters, are positives
Certainty of at least a partial repayment gives hope to investors; concerns partly priced in
IndusInd Bank made a contingent provision of Rs 2.75 billion against its exposure to the IL&FS group
Due to contingency provision related to loans to IL&FS, Q2 net profit grew at the slowest pace of 5% in 42 quarters
Lender takes a one-time contingent provision hit of Rs 2.75 billion against exposure to IL&FS group; without this provision, its profit would have grown 25%
Gross bad loans as a percentage of total loans stood at 1.09 per cent at end-September
If all goes according to plan, a successor will be announced 'sometime in the middle of next year'
Akila Krishnakumar and Anil Tiwari are appointed as non-executive independent directors
The Street took the fall in NIM with some caution, but performance and outlook remain strong