Monday, May 2, 2011
The South Indian Bank Limited = RESULTS = Q4 & FY 2011 = GOOD PERFORMANCE = Q4 FY 11 NPT UP BY 112% YOY
The South Indian Bank Limited
NSE Symbol SOUTHBANK
The South Indian Bank has declared excellent Results for Q4 and Fy 2011.
Interest Advances in Q4 FY 11 has grown to Rs.556.66 cr – up by 12.09% from Q3 FY 11, the previous quarter; and by 37.11% from Q4 FY 10, the corresponding Qtr. The Q$ figure is proportionately (Q4 x 4) higher to the FY 11 total by 15.37%; and FY 11 total is higher to FY 10 by 27.09%.
Income on Investments in Q4 is Rs.132.36 cr – up by 7.47% from Q3 FY 11; and up by 31.35% from Q4 FY 10; Q4 is proportionately higher than FY 11 by 9.95% ; and FY 11 is higher than FY 10 by 27.36%.
Total Income in Q4 is Rs.764.19 cr – which is up by 13.66% from Q3 FY 11; and Up by 37.04% from Q4 FY 10. It is proportionately higher than FY 11 total by 15.67%. FY 11 is higher than FY 10 by 23.25%.
N I I for Q4 Fy 11 is Rs.221.63 Cr – which is higher than Q3 by 8.22% and higher than Q4 FY 10 by 180.97%. Q4 is proportionately higher than FY 11 total by 12.06%; and FY 11 is higher than FY 10 by 39.21%.
Thus – on all Income fronts, SIB has performed well in Q4 and in FY 11 as a whole.
Total Expenditure ( excl. prov. ) for Q4 FY 11 is – Rs.611 Cr – up by 15.39% from Q3 FY 11; and up by 20.74% from Q4 FY 10; Q4 FY 11 is proportionately higher than FY 11 total by 15.42%; and FY 11 is higher than FY 10 by 22.14%.
Operating Profit for Q4 FY 11 – is Rs.153.19 Cr – up by 7.23% from Q3; and up by 196.88% from Q4 FY 10; It is proportionately higher than FY 11 total by 16.66%; and FY 11 is higher than FY 10 by 27.93%.
Provisions for Q4 FY 11 – is Rs.26.41 Cr against Rs.29.83 cr in Q3 FY 11; and Rs.79.75 Cr for FY 11 totally. However, FY 10 provisions was less at Rs.43.26 Cr.
Net Profit for Q4 FY 11 is Rs.81.77 Cr – up by 8.51% from Q3 FY 11; and by a Huge 111.73% from Q4 FY 10; It is proportionately higher than FY 11 total by 11.8%. FY 11 total is higher than FY 10 by 25.15%.
Dividend declared is 50% fro FY 11 against 40% for FY 10.
Capital Adequacy Ratio at the end of Q4 FY 11 is 13.17 – against 14.73 in Q4 FY 11.
Basic EPS on a face value of Rs.1 is 0.72 in Q4 FY 11 against Rs.0.342 in Q4 FY 10. For FY 11, the Basic EPS is 2.59 – against Rs.2.069 on a FV of Rs.1. Thus, there has been a huge improvement in profitability in Q4 FY 11 and generally in FY 11.
% of Gross/Net NPA in Q4 FY 11 is 0.29 against 0.39 in Q4 FY 10 – indicating improvement in asset quality. The NPA coverage ratio as on 31.03.2011 stands at 73.64%.
Return on Assets has improved to 1.08 in Q4 FY 11 from a low level of 0.16 in Q4 FY 10.
OTHER DETAILS :
Deposits have grown to Rs.29,721 cr; while advances have grown to Rs.20,799 Cr; Total Business as on 31.03.11 is Rs.50,520 cr;
Net Interest Margin is 3.06%.
Net NPA % is 0.29%.
Provision coverage is 73.64%
Casa is at 23.55%
Yield on Advances is 10.9%.
COF is 5.93%
Net Profit grew over 5.75 times in 5 years at CAGR 42%.
The Bank is on a Good Growth Trajectory and can be expected to produce much better results in future.
ANNOUNCEMENTS TO NSE
31-03-2011"Reserve Bank of India vide DBOD No. PSBD/15155/16.01.074/2010-11 dt 24/03/2011 has given its approval for altering the object clause of the Memorandum of Association of the Bank to form a Non-Deposit taking NBFC as a wholly owned subsidiary".
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