IndusInd Bank Q2FY18 standalone Net Profit Rises 25%

IndusInd Bank Ltd Q2FY18
Standalone Results Q2FY18: (Rs. in crore)
Q2FY18 YoY (%)
NII 1,820 24.7
NPA (%) 1.09 18
Provisions 293.7 37.4
Net Profit (adjusted) 880 25

Indusind Bank reported its Q2FY18 results today. The Q2FY18 results were in line with street estimates as NII for the quarter was marginally down against street estimates of Rs.1848 crore. While net  profit for the quarter also came in line with estimates of Rs.884 crore.

NII for the quarter rose 24.7% yoy to Rs.1820 crore in Q2FY18 vs Rs.1496 crore in previous year corresponding quarter. This was largely led by rise in interest income by 20.7% yoy to Rs.4208 crore.

Technical View:

IndusInd Bank Ltd is currently trading at Rs. 1,733.70, up by 16.35 points or 0.95% from its previous closing of Rs. 1,717.35 on the BSE.

The scrip opened at Rs. 1,731 and has touched a high and low of Rs. 1,741.80 and Rs. 1,700 respectively. So far 19,53,647(NSE+BSE) shares were traded on the counter. The stock is currently trading below its 50 DMA.

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