IndusInd Bank’s board of directors will discuss fundraising during their meeting on July 20. IndusInd Bank announced its upcoming board meeting to discuss and approve other operations and fundraising in a regulatory filing on Tuesday.
Today, the bank will release its June quarter earnings. IndusInd Bank is anticipated to report stable margins and strong loan growth for the first quarter of FY24. IndusInd Bank expects its net profit to increase by over 33% year over year (YoY) to roughly 2,180 crore and its net interest income to increase by 18% YoY to reach 4,850 crore during the quarter.
Pre-provision operating profit (PPOP) growth is predicted to be between 10 and 12 percent year over year (YoY) in Q1 FY24, while fee income growth may be close to 19 percent. Margins are anticipated to stay constant QoQ at 4.29%. Given the normalization of the microfinance institutions (MFI) and commercial vehicle (CV) industries, expect asset quality and slippages to gradually improve.
Expect margin to be largely consistent, and as long as PCR is strong, credit costs will gradually drop, according to Motilal Oswal Financial Services. Prior to the release of the Q1 earnings, the price of IndusInd Bank’s shares remained unchanged. At 2:00 pm on the BSE, IndusInd Bank shares were up 0.27% at 1,396.40 per share.
