Indusind Bank

This private sector bank, always the first to declare its Quarterly numbers, despite the trying circumstances, posted an excellent set of numbers for Q2FY16.  Profitability and margins showed very god growth while asset quality showed marginal sequential improvement. Its net profit for the quarter showed a 30% (YoY) jump at Rs.560 crore, mainly on account of higher other income. NII for the quarter rose 31% at Rs.1094 crore and NIM was up from 3.63% to 3.88% and QoQ, it rose from 3.68%.  Other income during the quarter was up 32% (YoY) at Rs.783 crore which was mainly on account of 24% jump in fee income.

Provisions during the quarter rose by a whopping 116% (YoY) and up 28% (QoQ), which actually went on to cap growth. Provision coverage ratio was at 60%. In terms of asset quality, Gross NPA fell 2 bps (QoQ) to 0.77% while Net NPA remained unchanged at 0/31%.  CAR as per Basel III norms rose from 12.43% (QoQ) to 16.52%.