IndusInd Bank Allots 2,21,280 Equity Shares To Employees As Stock Option

IndusInd Bank Limited on Thursday announced the allotment of 2,21,280 Equity Shares of Rs 10 each to those grantees who had exercised their option under the Company’s Employee Stock, the company announced through an exchange filing.

The face value of the equity shares is Rs 10 each.

The said shares will rank pari-passu with the existing shares of the Company in all respect.

IndusInd Bank Limited shares

The shares of IndusInd Bank on Thursday at 11:56 am IST were at Rs 1,465.90, up by 0.75 percent.

IndusInd Bank Q1FY24 Highlights

Net Profit for the quarter ended June 30, 2023 was Rs 2,124 crores as compared to Rs 1,631 crores during corresponding quarter of previous year up by 30 percent YoY.

Pre Provision Operating Profit (PPOP) at Rs 3,831 crores for the quarter ended June, 2023 registered a growth of 12 percent over the corresponding quarter of previous year at Rs 3,431 crores. PPOP/Average Advances ratio for the quarter ended June 30, 2023 at 5.5 percent.

Net Interest Income for the quarter June 30, 2023 at Rs 4,867 crores, grew by 18 percent YoY and 4 percent QoQ. Net Interest Margin for Q1 of FY24 stood at 4.29 percent against 4.21 percent for Q1 of FY 23 and 4.28 percent for Q4 of FY23.

Published on: Thursday, September 14, 2023, 12:02 PM IST