Fundamental Result Update

IndusInd Bank - Q2FY18 Result Update



IndusInd Bank (IIB), yet again, delivered a top quartile performance across parameters. Net profit grew by 25% YoY and stood at Rs 880 crs. Loan book grew at 24% YoY. The ratio of corporate to consumer loans stood at 60:40.

Valuation & Outlook: Indusind Bank has continued to show sustained progress across all vectors. At CMP of Rs.1,743 the stock is trading at 3.8(x) its FY 19E ABV. We have HOLD rating with a price target of Rs 1,906 based on 4.2(x) its FY 19E ABV.

 


Tags: FundamentalResult Update IndusInd Bank


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