This banking company has reported a 45% rise in Q4 net profit

The company has reported robust results on a consolidated basis. 

About the Q4 result 

IndusInd bank on a consolidated basis has reported a rise of 45.90% in its net profit at Rs 2,043.36 crore for the fourth quarter ended March 31, 2023, as compared to Rs 1,400.52 crore for the same quarter in the previous year. The total income of the bank increased by 24.70% at Rs 12,174.31 crore for Q4FY23 as compared to Rs 9,763.00 crore for the corresponding quarter previous year. The operating profit of the company increased by 11.19% to Rs 3757.50 in Q4FY23 from Rs 3379.49 in Q4FY22.  

For the year ended March 31, 2023, on a consolidated basis, the bank has reported a 54.92% rise in its net profit at Rs 7,443.13 crore as compared to Rs 4,804.63 crore for the previous year. Total income of the bank increased by 16.70% at Rs 44,540.69 crore for the year under review as compared to Rs 38,167.22 crore for year ended March 31, 2022. 

Share price movement 

IndusInd bank is currently trading at Rs 1,116, up by 13.95 points or 1.27% from its previous closing of Rs 1,102.05 on the BSE. 

The scrip opened at Rs 1,118 and has touched a high and low of Rs 1,127 and Rs 1,113.05 respectively. So far 1,40,729 shares were traded on the counter. 

The BSE group 'A' stock of face value of Rs 10 has touched a 52-week high of Rs 1,275.25 and a 52-week low of Rs 763.75. The current market cap of the company is Rs 86,690.77 crore. 

The promoters holding in the company stood at 16.50%, while Foreign Institutions and Domestic Institutions held 42.16% and 26.54% respectively. 

Company profile 

IndusInd Bank Limited was incorporated in 1994 under the Companies Act, 1956 and is licensed by the Reserve Bank of India (RBI) to operate as a commercial bank under the Banking Regulation Act, 1949. IndusInd Bank is a universal Bank with a widespread banking footprint with many customers, at various distribution points with numerous branches across the country. 

The bank offers a wide array of products and services for individuals and corporates including microfinance, personal loans, personal and & commercial vehicle loans, credit cards and SME loans. The bank is also a preferred banking partner for various Government entities, PSUs and large corporates.