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IndusInd Bank shares surged more than 2 percent in Friday’s trade ahead of its quarterly earnings for the January to March 2022 period due later in the day. Investors on Dalal Street were excited ahead of the results as the private lender is likely to report sustained growth in profit.

A CNBC-TV18 poll of analysts suggests IndusInd Bank would report profit growth of 58 percent to Rs 1,384 crore in the fourth quarter of FY22 against Rs 877.9 crore in the same quarter last financial year. Its provisions declined, thereby aiding net profit growth, analysts said.

IndusInd Bank had posted strong growth in operating profits in the October-December period. In fact, it is the only private lender to show year-on-year and quarter-on-quarter growth among mid and small-cap banks for the past five quarters in a row in the country.

The bank’s net interest income (NII) is expected to jump to Rs 3,977.6 crore during the quarter under review versus Rs 3,534.6 crore in the same quarter of FY21. Net interest margin (NIM) is expected to remain stable.

The private lender's management is confident that the outcome from agencies on the MFI portfolio would be in line with their expectations. The bank's commentary on credit cost and loan growth would be closely watched.

In the run-up to the fourth-quarter earnings, IndusInd Bank shares have surged more than 6 percent in the past five days against the benchmark Nifty, which rose 2 percent. Even as the stock has erased 1.5 percent of investors’ wealth in 2022 (year-to-date), it has made them more than 16 percent richer in the one-year period.

At 12:20 pm, the scrip was trading at Rs 1,000.95, up 1.2 percent from its previous close on the National Stock Exchange.

--With research inputs from Abhishek Kothari

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