IndusInd Bank shares fall 2% post Q4 results. Should you buy, sell or hold?
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IndusInd Bank shares fell 2% to Rs 1,469 in Friday's trade on BSE after the firm reported its March quarter results. Private sector lender reported a 15% year-on-year (YoY) jump in its March quarter net profit at Rs 2,347 crore, which was higher than the Street estimate of Rs 2,041 crore. Its net interest income or NII rose 13.9% to Rs 5,376 crore during the quarter. The lender's provisions were down 3.8% quarter-on-quarter (QoQ) to Rs 899 crore while its gross NPA and net NPA ratios improved to 1.92% and 0.57% from 1.98% and 0.59% YoY respectively and PCR at 71% in Q4. Its net interest margin (NIM) stood at 4.26% compared to 4.28% for Q4 FY23 and 4.29% for Q3 FY24. During the quarter, IndusInd's deposits were Rs 3,84,586 crore against Rs 3,36,120 crore, an increase of 14% YoY. CASA deposits increased to Rs 1,45,666 crore with Current Account deposits at Rs 46,989 crore and Savings Account deposits at Rs 98,676 crore. CASA dep...