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Indusind Bank posts good Q1FY16 result

Indusind Bank is a commercial bank that operates in four segments: Treasury, Corporate / Wholesale Banking, Retail Banking and Investment Banking Operations. The bank acts as a clearing bank for major BSE and NSE stock exchanges, and three major  MCX, NCDEX,  NMCE commodity exchanges. The Bank also offers depository participant facilities for stock and commodity segments.

Today, Indusind Bank announced its first quarter FY16 result, wherein the net income from operations rose by 6.5 per cent amounting to Rs 3448 crore in  Q1Fy16 as compared to Rs 3237 crore in  the corresponding quarter last fiscal. The total segment revenue  rose by 6.5 per cent including an increase in the Treasury Operations segment by 5.16 per cent, Corporate / Wholesale Banking segment by 9 per cent, Retail Banking segment by 7.13 per cent in Q1FY16 compared to Q4FY15. 

The total expenses increased by 5.79 per cent to Rs 2525 crore than 2387 crore on sequential basis, with increased in interest expended by 5.38 per cent, employee cost by 2.59 per  cent, and other expenses by 9 per cent. The net profit of the bank rose by 6 per cent to Rs 525 crore in Q1FY16 than Rs 495 crore in Q4FY15. The Bank's asset quality has improved marginally, the gross NPA (Non Performing Assets) of the bank stood at 0.79 per cent to Rs 570 crore and net NPA stood at 0.31 per cent to Rs 225 crore in Q1FY16. The gross NPA was sharply fell in Q4FY15 to Rs 449 crore because of sale to asset restructuring company (ARCs) and recoveries. 

If you look at yearly basis, the Bank posted 19.98 per cent revenue growth to Rs 3447.84 crore than Rs 2873.68 crore on yearly basis. The total expenses increased by 18.86 per cent in Q1FY16 compared to Q1FY15. The net profit jumped to Rs 525 crore from Rs 421 crore indicating an  increase by 24.69  per cent in the June quarter which ended FY16 as compared to the same quarter in last fiscal.  The NII (Net interest income) increased by 22.5 per cent amounting to Rs 981 crore in Q1Fy16 against Rs 801 crore in Q1FY15.

Due to a good Q1 FY16 result, today  intraday the bank share prize climbed to Rs 924, indicating an increase by 3.27 per cent.

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