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Thanks to the strong traction in high-yielding loans, improvement in margins and stable asset quality, IndusInd delivered a healthy growth in earnings in the September quarter. The 26 per cent growth in net profit for the September quarter was in line with its past run rate of 25-30 per cent growth in earnings. The robust 26 per cent growth in loans was led by both the corporate and retail segments.
Within the retail space, while the growth in commercial vehicle loans moderated a bit, other segments such as car loans, credit card and loan against property delivered strong growth. The good traction in the high-yielding loans has aided margins along with the fall in cost of deposits.
The bank has also been able to keep bad loans under check despite the strong growth in loans. The bank’s gross non-performing assets have been stable at 0.9 per cent of loans in the September quarter, marginally down from the June quarter. There has been some pressure though, in the loan against property book in the September quarter.
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