IndusInd Bank has surprised the market by reporting strong growth on both profitability as well as loan book fronts. Its net profit grew by 29.2% yoy & 6.6% qoq to Rs7.5bn led by 34.5% yoy & 8.1% qoq growth in NII and 21.2% yoy & 4.8% qoq growth in other income. About 70% of its loan book is on fixed rate, which helps the Bank it to report a strong growth on NII front amid a declining interest rate scenario. Its loan book grew by 25.1% yoy and 3.9% qoq owing to strong growth in non-vehicle retail segments (+42% yoy) and corporate loan book (+25% yoy). Despite adverse macro condition, the Bank showed greater resilience on asset quality front as gross and net NPA remained well within the...