Induslnd Bank, Bank of Maharashtra, Nelco Q4 results today

  • Apart from Q4 results, IndusInd's board of directors are likely to consider and recommend dividend for FY23 in a meeting today.

Livemint
First Published24 Apr 2023
The Q4 earnings of Bank of Maharashtra, Century Textiles and Industries Ltd., Maharashtra Scooters Ltd., are expected to be announced.
The Q4 earnings of Bank of Maharashtra, Century Textiles and Industries Ltd., Maharashtra Scooters Ltd., are expected to be announced.

IndusInd Bank Ltd., along with other companies such as Persistent Systems Ltd. and Mahindra Logistics Ltd., is set to announce their financial results for FY23 on Monday.

Apart from Q4 results, IndusInd's board of directors are likely to consider and recommend dividend for FY23 in a meeting today.

IndusInd Bank, which is ranked as the fifth largest private bank in India, is anticipated to achieve significant growth in its net profit for the reviewed quarter due to the combined positive impact of better loan growth and lower provisions, according to media reports.

IndusInd Bank has already announced its balance sheet figures for March 2023 quarter. In Q4FY23, the lender's net advances rose by 21% YoY and 6% QoQ to 2,89,965 crore, while deposits climbed by 15% YoY and 3% QoQ to 3,36,443 crore.

During the December 2022 quarter, IndusInd surpassed estimates with a PAT of 1,959.20 crore up by a whopping 68.71% YoY and 9.65% QoQ. While net interest income (NII) stood at 4,495.34 crore higher by 18.5% YoY and 4.5% QoQ. The lender's provisions dipped by 35.63% YoY and 6.69% sequentially to 1,064.73 crores.

As of December 31, 2022, IndusInd Bank's gross NPA and net NPA stood at 2.06% and 0.62% respectively.

Last week, on Friday, IndusInd Bank's stock price closed at 1,115.90 apiece down by 10.15 or 0.90% on BSE. The bank's m-cap is over 86,582 crore by end of April 23.

During the trading session from April 17th to April 21st, Sensex edged up marginally by 182 points or 0.3%. However, the Nifty 50 was marginally lower compared to the previous week. IT stocks are the top underperformers of this week after disappointing Q4 of TCS and Infosys.

On April 21st, Sensex closed at 59,655.06 up by 22.71 points or 0.04%. Nifty 50 ended flat at 17,624.05.

Meanwhile, the Q4 earnings of Bank of Maharashtra, Century Textiles and Industries Ltd., Maharashtra Scooters Ltd., NELCO Ltd., Tamilnad Mercantile Bank Ltd., and Tata Teleservices (Maharashtra) Ltd. are expected to be announced.

 

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