IndusInd Bank Q4 Results: PAT jumps 50% YoY to Rs 2,040 cr; dividend declared at Rs 14/share

 

IndusInd Bank's standalone net profit rose 50% to Rs 2,040 crore for the fourth quarter ended March. It was Rs 1,361 crore in the same period last year. The profit beat the estimate of ET Now Poll, which expected the figure to be around Rs 2,000 crore

The board has also recommended a payment of dividend at Rs 14 per equity share for the financial year 2022-23.

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The net interest income (NII) of the lender came in at Rs 4,669 crore for the quarter under review, which is up 17%, compared with Rs 3,985 crore in the corresponding quarter of last year.

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Following the announcement of the results, the stock is trading flat in afternoon trade on Monday at Rs 1,117 on NSE.

The Mumbai-based lender's provisions (other than tax and contingencies) fell as much as 29% during the March quarter to Rs 1,030 crore. The same stood at Rs 1,461 crore in the year-ago period.

The bank reported a strong quarter on the asset quality front with both gross non-performing assets (NPAs) and net NPAs on the d ..

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https://economictimes.indiatimes.com/markets/stocks/earnings/induind-bank-q4-results-pat-jumps-50-yoy-to-rs-2040-cr-dividend-at-rs-14/share/articleshow/99728028.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst