The bank's net interest grew 17 per cent YoY to Rs 4,669 crores in the March quarter from Rs 3,985 crores.

IndusInd Bank’s net profit in the fourth quarter of FY23 beat street estimates to grow grew 46 per cent to Rs 2,043 crore year-on-year, the private lender announced in a stock exchange filing on Monday. The bank’s net profit in the same quarter a year ago was Rs 1,401 crore.

The bank board, in a meeting earlier today, decided dividend of Rs 14 per share for FY23, as compared to Rs 8.50 per share for FY 2021-22.

The private lender’s NIM improved to 4.28 per cent in the March quarter, as compared to 4.20 per cent, in the same quarter a year ago, and 4.27 per cent in the previous quarter. IndusInd Bank’s net interest grew 17 per cent YoY to Rs 4,669 crores in the March quarter from Rs 3,985 crores.

The bank’s deposits grew by 15 per cent YoY to Rs 3,36,120 crore from Rs 2,93,349 crores.

IndusInd’s gross NPA improved to 1.98 per cent from 2.27 per cent YoY, while its net NPA improved to 0.59 per cent from 0.64 per cent. The lender’s PCR came at 71 per cent, as at March 31, 2023.

Shares of IndusInd Bank rose as much as 2.2 per cent after the lender announced its quarterly results, however, the stock ended 1.34 per cent down, to close at Rs 1,101.35 on the NSE.

Courtesy: IE, Mint, FE, BS, BQ, MoneyControl, CNBC TV18, ET