DENA BANK
NSE Symbol DENABANK
DENA BANK has performed very well in third quarter ending December, 2010.
Interest on Advances : is Rs.986 cr – up by 8.01% from Q2; By 18.02% from Q1; Up by 28.45% from Q4 of FY 10 and by 28.73% from Q3 of DFY10.
Income on Investments : is Rs.300 cr – down by 1.16% from Q2; Up by 8.78% from Q1; Up by 10.19% from Q4 FY10 and Up by 21.63% from Q3 of FY 10.
Net Interest Income (Earned – expended) : is Rs. 466 Cr – up by 0.25% from Q2; Up by 29.39% from Q1; By 43.03% from Q4 of FY10; and up by 64.81% from Q3 of FY10.
Total Income : is Rs.1417 Cr – up by 5.71% from Q2; up by 15.97% from Q1; Up by 14.45% from Q4 of FY10 and up by 23.32% from Q3 of FY10.
Provisions has risen to Rs.85.69 cr – from Rs.72.85 cr in Q2 and Rs.29.25 cr in Q3 FY 10. Provision coverage Ratio Now is 76.09% as on 31.12.2010.
NET PROFIT : is Rs. 155 cr – down by 3.37% from Q2; Up by 11.83% from Q1; up by 13.23% from Q4 of FY 10; and up by 15.38% from Q3 of FY10.
Capital Adequacy Ratio is reasonably good at 11.08.
% of Gross/Net NPA is 1.26 – compared to 1.49 in Q2; 1.49 in Q1; 1.21 in Q4 FY10; and 1.19 in Q3 of FY10.
Return on Assets is 0.99 - compared to 1.09 in Q2; 0.97 in Q1; 1.02 in Q4 FY 10; and 1.04 in Q3 FY 10.
Basic EPS is Rs.5.41 – compared to Rs.5.6 in Q2; Rs.4.84 in Q1; Rs.4.78 in Q4 FY 10; and Rs.4.69 in Q3 of FY10.
PE RATIO : Current MP is Rs.104. Annual EPS could be over Rs.21.25. PE Ratio is quite low at 4.89. Dena Bank has been performing reasonably consistently and improving QOQ. Considering the same. the current PE Ratio appears to be very LOW.
RESULTS TABLE :
| DENA BANK | 31-Dec-10 | 30-Sep-10 | 30-Jun-10 | 31-Mar-10 | 31-Dec-09 |
| Interest on Advances | 98637 | 91321 | 83577 | 76789 | 76621 |
| dif %1 | 986 | 8.01 | 18.02 | 28.45 | 28.73 |
| Income on Investments | 29992 | 30343 | 27572 | 27219 | 24659 |
| dif %2 | 300 | -1.16 | 8.78 | 10.19 | 21.63 |
| Income on Balances With RBI | 360 | 482 | 319 | 598 | 310 |
| Others | - | 1 | - | 1718 | - |
| Interest Earned | 128989 | 122147 | 111468 | 106324 | 101590 |
| Other Income | 12706 | 11891 | 10710 | 17486 | 13314 |
| Total Income | 141695 | 134038 | 122178 | 123810 | 114904 |
| dif %3 | 1417 | 5.71 | 15.97 | 14.45 | 23.32 |
| Interest Expended | 82347 | 75620 | 75419 | 73713 | 73290 |
| NII | 46642 | 46527 | 36049 | 32611 | 28300 |
| diff %5 | 466 | 0.25 | 29.39 | 43.03 | 64.81 |
| Employees Cost | 18080 | 16251 | 14459 | 12845 | 13168 |
| Other Opertg Expenses | 9625 | 9603 | 8440 | 9239 | 8678 |
| Opertng Expenses | 27705 | 25854 | 22899 | 22084 | 21846 |
| Operating Profit | 31643 | 32564 | 23860 | 28013 | 19768 |
| dif %6 | 316 | -2.83 | 32.62 | 12.96 | 60.07 |
| Provisions | 8569 | 7285 | 4283 | 8244 | 2925 |
| Profit before tax | 23074 | 25279 | 19577 | 19769 | 16843 |
| Tax Expense | 7553 | 9216 | 5698 | 6062 | 3391 |
| Net Profit After Tax | 15521 | 16063 | 13879 | 13707 | 13452 |
| Net Profit | 15521 | 16063 | 13879 | 13707 | 13452 |
| Dif %7 | 155 | -3.37 | 11.83 | 13.23 | 15.38 |
| Face Value (in Rs.) | 10 | 10 | 10 | 10 | 10 |
| Paid-up Equity | 28682 | 28682 | 28682 | 28682 | 28682 |
| Dividend (%) | - | - | - | 20 | - |
| Capital Adequacy Ratio | 11.08 | 10.31 | 9.95 | 10.65 | 11.79 |
| Basic EPS | 5.41 | 5.6 | 4.84 | 4.78 | 4.69 |
| Gross/Net NPA | 51914 | 53779 | 56120 | 42753 | 36471 |
| % of Gross/Net NPA | 1.26 | 1.49 | 1.49 | 1.21 | 1.19 |
| Return on Assets | 0.99 | 1.09 | 0.97 | 1.02 | 1.04 |
| Public holding (%) | 0 | 0 | 48.81 | 0 | 48.81 |
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