IndusInd Bank Q4 results: Q4 net profit up 50% to ₹2,040 crore, bank to pay ₹14 dividend

Private lender IndusInd Bank has announced the results of Q4FY23 i.e. the fourth quarter (January-March) on Monday (April 24). The bank's standalone net profit for the quarter grew 50% year-on-year (YoY) to Rs 2,040.51 crore. The board of directors of the bank has also declared a dividend of Rs 14 per equity share for the shareholders.
The bank registered a net profit of Rs 1,361.37 crore in the same quarter last year. The bank's net interest income grew 17% year-on-year (YoY) to Rs 4,669 crore in the March quarter. Net interest margin in Q4FY23 stood at 4.28% as against 4.20% in Q4FY22 and 4.27% in Q3FY23.
The bank's gross bad loans as a percentage of total loans stood at 1.98% at the end of March, compared to 2.06% at the end of December. The non-performing asset (NPA) ratio of the bank also fell from 0.62% to 0.59%.
In the financial year 2023, the bank's net interest income has increased by 17% to Rs 17,592 crore from Rs 15,001 crore last year. Fee income has also increased to Rs 8,173 crore, while it was Rs 7,345 crore last year.
In FY-23, the bank registered a total income (interest income and fee income) of Rs 4,541 crore as compared to Rs 38,167 crore in the previous year. The operating expenses of the bank stood at Rs 11,346 crore in FY23 as against Rs 9,311 crore in the previous year.