IndusInd Bank Ltd declared financial results on April 24, 2023, for Q4FY23 and the year that ended on March 31, 2023 since then it is shooting up. Yesterday the scrip closed at Rs 1303.35, today it opened at Rs 1291.10 and currently it is trading at Rs 1333.10 up by 2.28%.
Today it hit a new 52-week high of Rs 1336.25 and it has a 52-week low of Rs 763.73. The company has a market cap of around Rs 1,03,000 crore. On April 24 2023, it was closed at Rs 1102.05. Since then, it has given a return of 20.97%. Over the past one-year company has given a return of 44.79%.
Now talking about the financials, on a consolidated basis, the bank has reported a rise of 45.89% in its net profit at Rs 2,043.44 crore for the fourth quarter that ended March 31, 2023, as compared to Rs 1,400.64 crore for the same quarter in the previous year. The total income of the bank increased by 24.70% at Rs 12,174.31 crore for Q4FY23 as compared to Rs 9,763.00 crore for the corresponding quarter previous year.
For the year ended March 31, 2023, on a consolidated basis, the bank has reported a 54.91% rise in its net profit at Rs 7,443.49 crore as compared to Rs 4,805.03 crore for the previous year. The total income of the bank increased by 16.70% at Rs 44,540.69 crore for the year under review as compared to Rs 38,167.22 crore for the year ended March 31, 2022.
In addition, the Board of IndusInd Bank has approved a dividend of Rs 14 per equity share on a face value of Rs 10, with an ex-date of June 2, 2023.
IndusInd Bank Limited was incorporated in 1994 as a commercial bank under the Banking Regulation Act, of 1949. The Bank is publicly held and provides a wide range of banking products and financial services to corporate and retail clients besides undertaking treasury operations. The Bank operates in India including at the International Financial Service Centres in India.