Shares of Indusind Bank are up nearly 3% at Rs. 920.45, nearing day’s high point of Rs. 921, made on NSE, post Q1FY16 results announcement.

Bank’s net interest income grew 6% QoQ to Rs. 981 crore, on back of double digit growth in other income to Rs. 725 crore, from Rs. 658 crore in Q4FY15. Cost-to-income ratio declined to 45.9% from 46.3% in Q4Fy15 and 46.8% in FY15. Although provisions and contingencies increased to Rs. 123 crore during the quarter (Rs. 107 crore in March 2015 quarter), asset quality was maintained, with net NPAs at 0.31%, no change from 31-3-15.

EPS for Q1FY16 is Rs. 9.90 as against Rs. 33.99 for FY15. Based on expected BVPS of Rs. 237 on 31-03-16, share is currently trading at PBV of 3.88x and PE multiple of 21x, which is the premium the share has always commanded.