Target: ₹1,995CMP: ₹1,445.85IndusInd Bank (IIB) reported a PAT of ₹2,350 crorein Q4-FY24, growing by 15 per cent y-o-y and 2.2 per cent q-o-q driven by lower credit cost. It was above than our estimate of ₹2,300 crore. NII grew by 15.1 per cent y-o-y and 1.5 per cent q-o-q, however it was slightly lower than our estimates. Margin profile of the bank was stable over the last six-seven quarter, NIM came in at 4.26 per cent in the quarter and is expected to go up as contribution increases of higher yield loans. PPOP grew by 7.6 per cent y-o-y and 0.6 per cent q-o-q, was below than our estimates.
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Source: https://www.thehindubusinessline.com/markets/brokers-call-indusind-bank-buy/article68110138.ece/amp/