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.

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.