IndusInd Bank Q1FY25 Quarter Results
IndusInd Bank’s net revenues grew over 15% YoY
- 29 Jul 2024
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- IndusInd Bank’s net revenues (net interest income plus other income) grew by 1.9% quarter-on-quarter (QoQ) during the quarter ended June (Q1FY25). On a year-on-year (YoY) basis, it witnessed a growth of 15.8%.
- Its expenses for the quarter were up by 3.9% QoQ and 21.2% YoY.
- The bank’s net profit reduced 7.6% QoQ and grew 2.2% YoY.
- The earnings per share (EPS) of IndusInd Bank stood at 27.9 during Q1FY25.
IndusInd Bank’s financial statements for Q1FY25:
| (Rs, crores) | Q1FY24 | Q4FY24 | Q1FY25 | QoQ (%) | YoY (%) |
|---|---|---|---|---|---|
Total income | 12,939.5 | 14,706.7 | 14,988.4 | 1.9% | 15.8% |
Total expenses | 9,108.0 | 10,625.1 | 11,036.6 | 3.9% | 21.2% |
Provisions & contingencies | 991.6 | 950.2 | 1,049.8 | 10.5% | 5.9% |
Profit before tax | 2,839.9 | 3,131.3 | 2,902.0 | -7.3% | 2.2% |
Tax | 715.5 | 782.2 | 731.2 | -6.5% | 2.2% |
Profit after tax | 2,124.4 | 2,349.1 | 2,170.7 | -7.6% | 2.2% |
Earnings per share | 27.3 | 30.1 | 27.9 |
Financials:
- Net Profit grew by 2% YoY to ₹2,171 crores from ₹2,124 crores.
- Net Interest Income (NII) grew by 11% YoY to ₹5,408 crores from ₹4,867 crores.
- NIM was stable at 4.25% as of Q1FY25 as compared to 4.29% as of Q1FY24 and 4.26% as of Q4FY24.
- Deposits grew by 15% YoY to ₹3,98,513 crores from ₹3,47,047 crores.
- Gross NPA and Net NPA ratios at 2.02% and 0.60% from 1.94% and 0.58% YoY respectively, and PCR at 71% as at June 30, 2024.
Management Commentary:
Mr. Sumanth Kapadia, Managing Director and CEO of IndusInd Bank, said,
- “Indian economy during the last quarter, too maintained its robust momentum. Certain pockets of economy, especially on the rural segments, was impacted by the activity related to the general elections and heat wave.
- The Bank navigated these external factors well during the quarter and we are seeing underlying businesses already coming back to normalcy. The Bank focused on balanced growth between loans and deposits, both growing by 15% YoY.
- The asset quality metrics have remained well within bank’s expected range. The balance sheet metrics in terms of liquidity, capital adequacy, NPA coverage were stable or better during the quarter.
- The Bank consequently posted profits after tax of ₹2,171 crores. The Bank remains well-positioned to deliver its strategic growth aspirations, participating in India's vision to be a developed economy."
Data Source: BSE, Company announcements
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