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KR Choksey’s research report on IndusInd Bank
IndusInd Bank result was in-line with our estimates with minor deviations of ~2.0% headline numbers. In Q4FY24, Net Interest Income (NII) grew by 1.5% QoQ/ 15.1% YoY to INR 53,765 Mn. The NII was lower by 2.6% on the back of slightly lower yields on assets. PreProvision Operating Profits (PPOP) grew 8.6% YoY/ 1.0% QoQ in Q4FY24 to INR 40,815 Mn. The PPOP was 2.9% lower than our estimates. The net profit for Q4FY24 stood at INR 23,492 Mn, an increase of 15.0% YoY and…
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