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Prabhudas Lilladher Report
IndusInd Bank Ltd.’s earnings of Rs 8.7 billion missed estimates (our estimate: Rs 9.6 billion) partly on slightly weaker income and partly on continued provisions.
Slippages were slightly higher led from corporate and invoked restructuring led to upgrades as well.
Retail slippages though were lower sequentially has been still on higher side, continued from vehicle finance, micro finance institution, unsecured.
Restructuring outcome has been slightly than anticipated (2% versus 1.8% expected) as second wave has increased retail/small medium enterprise borrowers to opt for restructuring.
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