INDUSIND BANK Announces Quarterly Results (3QFY21); Net Profit Down 34.4%

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INDUSIND BANK Announces Quarterly Results (3QFY21); Net Profit Down 34.4%
Mon, 1 Feb

INDUSIND BANK has announced its results for the quarter ended December 2020. Here is a detailed performance review of the same:

INDUSIND BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-19*
3
Sep-20*
3
Dec-20*
QoQ ChangeYoY Change
Operating incomeRs m72,84571,77272,4150.9%-0.6%
Other incomeRs m17,89415,53817,0559.8%-4.7%
Total revenuesRs m90,73987,31189,4702.5%-1.4%
InterestRs m42,10538,99238,354-1.6%-8.9%
Gross Profit Rs m30,74032,78034,0613.9%10.8%
Other expensesRs m21,17820,01321,3836.8%1.0%
Profit before taxRs m17,0228,66111,19829.3%-34.2%
TaxRs m4,0202,1912,67021.9%-33.6%
Profit after taxRs m13,0026,4708,52831.8%-34.4%
Gross profit margin %42.245.747.0
Effective tax rate%23.625.323.8
Net profit margin%17.89.011.8
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The bank's operating income (interest earned) during the quarter fell 0.6% on a year-on-year (YoY) basis. The interest expended was down by 8.9% YoY during the same period.
  • The bank's operating profit increased by 10.8% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 47.0% in 3QFY21 as against 42.2% in 3QFY20.
  • Other income declined by 4.7% YoY during the quarter.
  • Net profit for the quarter declined by 34.4% YoY. Net profit margins during the quarter declined from 17.8% in 3QFY20 to 11.8% in 3QFY21.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 0.9% on a quarter-on-quarter (QoQ) basis. The interest expended was down by 1.6% QoQ during the same period.
  • The bank's operating profit increased by 3.9% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 47.0% in 3QFY21 as against 45.7% in 2QFY20.
  • Net profit for the quarter increased by 31.8% QoQ, while net profit margins increased from 9.0% in 2QFY20 to 11.8% in 3QFY21.

To see how INDUSIND BANK has performed over the last eight quarters,please visit here.

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INDUSIND BANK Share Price Performance

Over the last one year, INDUSIND BANK share price has moved down from Rs 1,210.9 to Rs 956.1, registering a Loss of Rs 254.9 or around 21.0%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 37,394.2 (up 7.9%). Over the last one year it has moved up from 34,161.4 to 37,394.2, a gain of 3,233 points (up 9.5%).

Overall, the S&P BSE SENSEX is up 18.6% over the year.

Current Valuations

At the current price of Rs 956.1, the price to earnings (P/E) ratio of INDUSIND BANK stands at 25.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.7 times.

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