IndusInd Bank's Q4 a mixed bag: NII up 45%; pre-tax profit falls 22%

Net interest income up 45% YoY; pre-tax profit falls 22%

The March 2020 quarter (Q4) standalone performance of IndusInd Bank, reported on Monday after market hours, was a mixed bag, with the top line beating the Street’s expectations and the bottom line falling way short of estimates.

The bank’s pre-tax profit declined 22 per cent year-on-year (YoY) and 77 per cent quarter-on-quarter (QoQ) to Rs 395.9 crore, and was lower than the Bloomberg Consensus estimate of Rs 403 crore. Despite lower tax expenses restricting the fall in net profit to 16 per cent YoY (Rs 301.8 crore), profit fell significantly short of the Consensus estimate of Rs 412 crore.

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