IndusInd Bank
IndusInd Bank Posted 26% growth in profits YoY for Q2. Growth in profits was supported by revenue growth of 24%. The company has reached its target of 4% net interest margin.
Key TakeAways
- Banks Net Interest Margin improved from 3.88% in Q2 last year to 4.00% for the current reported quarter.
- CASA growth at 36.54% YoY for the current quarter.
- Advances and Deposits growth at 26% and 39% YoY respectively.
- Provision Coverage Ratio at 59%. The RBI prescribed ratio is at 70%. Though not mandatory but its safer for the banks maintain those levels.
- Gross NPA’s grew at 4.46% QoQ, but the Gross NPA% declined by 0.01%. Mainly on account of higher growth in advances.
- On NPA front the bank has been doing good and has maintained low levels.
- Capital Adequacy Ratio (CAR) is at 15.32, well above the mandated 9.6.
Cera
Cera, which came out with results today, has posted revenue growth of 12.50% and profit growth of 40.6%. The Ahmedabad based company is into sanitary ware, faucets, fittings and tiles.
- The company’s operating margin has improved drastically. For current reported quarter the operating margin stood at 14.25%, where as for the same period last year the the operating margin was at 10.86%.
- The major reason for the improved margins for cheaper availability of raw materials.
The share closed 1.57% below the previous close. The stocks closing price is at Rs 2632.65.
