IndusInd Bank Soars On Reporting 30% Rise In Q1 Consolidated Net Profit
IndusInd Bank's current trading price stands at Rs. 1428.15, indicating a notable increase of 37.85 points or 2.72 per cent from its previous closing value of Rs. 1390.30 on the BSE.
The stock opened at Rs. 1442.00 and experienced a high and low of Rs. 1443.35 and Rs. 1424.35 respectively. The total number of shares traded on the counter has reached 92,634.
As a BSE group 'A' stock with a face value of Rs. 10, IndusInd Bank reached its 52-week high of Rs. 1,443.35 on 19 July 2023 and a 52-week low of Rs. 840.00 on 19 July 2022.
Over the last week, the scrip's high and low points were recorded at Rs. 1443.35 and Rs. 1366.85 respectively. The current market capitalisation of the company is Rs. 107,890.46 crore.
As of the latest data, the promoters hold 16.49 per cent of the company's shares, while Institutions and Non-Institutions hold 68.92 per cent and 14.58 per cent respectively.
In the quarter ended 30 June 2023, IndusInd Bank reported a significant 32.45 per cent rise in net profit, amounting to Rs. 2123.62 crore, compared to Rs. 1603.29 crore for the same quarter in the previous year. The bank's total income also increased by 27.98 per cent to Rs. 12,939.42 crore for Q1FY24, compared to Rs. 10,110.47 crore for the corresponding quarter the previous year.
On a consolidated basis, the bank's net profit for the quarter ended 30 June 2023, witnessed a growth of 30.25 per cent, reaching Rs. 2124.50 crore compared to Rs. 1631.14 crore for the same quarter in the previous year. The total income for Q1FY24 increased by 27.95 per cent to Rs. 12,939.47 crore, compared to Rs. 10,113.29 crore for the corresponding quarter in the previous year.
