Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel https://t.me/InvestmentGuruIndia
Download Telegram App before Joining the Channel
Indusind Bank’s Q4FY20 total Income was up by 21.3% YoY to Rs 9,159cr. Net Interest Income was up by 44.7% YoY to Rs 3,231cr. Net Interest Margin improved to 4.25% from 3.59% in Q4FY19. PAT stood at “Rs 360cr (down 16% YoY). Its provisions and contingencies increased 56.4% YoY and 134% QoQ to Rs 2,440cr. The asset quality declined as GNPA stood at 2.45% against 2.18% as of December 31, 2019, while net NPA improved marginally (0.91% vs 1.1% QoQ).
View: Indusind Bank has reported mixed set of numbers which are largely in-line with street expectations. However, continuous increase in slippages is a concern. Since there is a high level of uncertainty about the duration of the lockdown due to COVID-19 pandemic, the bank has made a counter cyclical buffer/ floating provision of Rs 260cr. Hence, given the uncertainty for the next few quarters, any fresh investments for long-term purpose should be avoided in the stock.
To Read Complete Report & Disclaimer Click Here
Please refer disclaimer http://ex.religareonline.com/disclaimer SEBI Registration number is INZ000174330
Above views are of the author and not of the website kindly read disclaimer