Andhra Bank
NSE Symbol ANDHRABANK
ANDHRA BANK has declared GOOD RESULTS for the first quarter ending June 2011. The Q1 FY 2012 results are compared below with the previous quarter of Q4 FY 2011, the corresponding quarter of Q1 FY 2011 – and on an annualized basis (Q1 FY 12 x 4) with the full year of FY 2011.
Interest on Advances ; stands at Rs.2164.87 cr – up by 12.89% from Q4 FY 11; up by 44.4% from Q1 FY 11; and on annualized basis, up by 29.46% from FY 2011.
Income on Investments : stands at Rs.452.57 cr – up by 10.71% from Q4 FY 11; up by 26.76% from Q1 FY 11; and up, on annualized basis from FY 11 by 17.58%.
Total Income ; has gone up to Rs.2851.18 cr – up by 7.09% from Q4 FY11; up by 37.52% from Q1 FY 11; and on annualized basis , up by 24.12% from FY 11.
Net Interest Income stands at Rs.910.38 cr – up by 5.67% from Q4 FY 11; up by 23.65% from Q1 FY 11; and on annualized basis, up by 13.06% from FY 11.
Net interest margin increased to 3.77 per cent (against 3.72 earlier in Q1 FY 11 ).
Total Expenditure (excl. provisions) stands at Rs.2151.52 cr – up by 10.28% from Q4 FY 11; up by 37.67% from Q1 FY 11; and on annualized basis, up by 27.02% from FY 11.
Operating Profit stands at Rs.699.66 cr – slightly down by 1.66% from Q4 FY 11; but up by 37.08% from Q1 FY 11; and, on annualized basis, up by 15.98% from FY 11.
Provisions stands at Rs.176.95 cr – compared to Rs.302.72 cr in Q4 FY 11; and Rs.51.99 cr in Q1 FY 11. Provisions in FY 11 was Rs.645.99 cr.
Profit before tax comes to Rs.522.71 cr – up by 27.87% from Q4 FY 11; up by 14.03% from Q1 FY 11; and, on an annualized basis, up by 18.32% from FY 11.
Net Profit stands comfortably at Rs.385.71 cr – up by 23.32% from Q4 FY 11; up by 20.38% from Q1 FY 11; and up by 21.76% from FY 11 (On annualized basis).
Capital Adequacy Ratio stands at 12.29.
Basic EPS –on a face Value of Rs.10, comes to Rs.6.89 – against Rs.6.37 in Q4 FY 11; Rs.6.61 in Q1 FY 11 and Rs.26.05 in the whole of FY 11.
Gross/Net NPA stands at Rs.337.40 cr – against Rs.273.68 cr in Q4 FY 11; and Rs.169.76 Cr in Q1 FY 11. The figure for FY 2011 was Rs.273.68 Cr.
% of Gross/Net NPA stands at 0.45 - against 0.38 in Q4 FY 11; and 0.3 in Q1 FY 11.
Return on Assets is comfortable at 1.43.
The total business increased 26 per cent to over Rs 1.66 lakh crore in the quarter.
Andhra Bank has been steadily increasing its branches in the western, northern and eastern parts of the country during the last three years – for having a PAN INDIA Image and Network. The Bank proposes to open 100 Branches subject to RBI approval.
In the Q1 FY 2012 – its performance has been quite Good. Andhra Bank has been a consistent Performer in every quarter, with Good Growth and Good asset quality.
At Rs.138 current Market Price, its annualized EPS of Rs.6.89 x 4 = 27.56, which is likely to improve further in the remaining 3 Quarters – yields a PE Ratio of just 5 – which is quite LOW for a consistent performer like Andhra Bank. It is a GOOD BUY for medium / long term investors.
ANNOUNCEMENTS TO NSE
28-07-2011 Andhra Bank standalone Results for the quarter ended on 30-JUN-2011 as follows: Interest earned of Rs. 263423 lacs for the quarter ending on 30-JUN-2011 against Rs. 186504.75 lacs for the quarter ending on 30-JUN-2010. Interest expended of Rs. 172385 lacs for the quarter ending on 30-JUN-2011 against Rs. 112880.38 lacs for the quarter ending on 30-JUN-2010. Net Profit / (Loss) of Rs. 38571 lacs for the quarter ending on 30-JUN-2011 against Rs. 32040.85 lacs for the quarter ending on 30-JUN-2010.
11-07-2011 Andhra Bank has decided to increase the Benchmark Prime Lending Rate (BMPLR) from the existing rate of 14.25% per annum to 14.50% per annum, with effect from July 11, 2011
11-07-2011 Andhra Bank has informed the Exchange that the Bank has decided to increase the Base Rate from 10.00% to 10.25% with effect from July 11, 2011.
06-05-2011 Andhra Bank has informed the Exchange that the Bank has decided to increase the Base Rate from 9.50% to 10.00% with effect from May 09, 2011.
06-05-2011 Andhra Bank has decided to increase the Benchmark Prime Lending Rate (BMPLR) from the existing rate of 13.75% per annum to 14.25% per annum, with effect from May 09, 2011.
05-05-2011 Andhra Bank has recommended a dividend of Rs.5.50 (55%) per share for the year 2010-11, subject to approval by Government of India.
05-05-2011 Andhra Bank standalone Results for the year ended on 31-MAR-2011 as follows: Interest earned of Rs. 829127.68 lacs for the year ending on 31-MAR-2011 against Rs. 637286.58 lacs for the year ending on 31-MAR-2010. Interest expended of Rs. 507030.74 lacs for the year ending on 31-MAR-2011 against Rs. 417812.87 lacs for the year ending on 31-MAR-2010. Net Profit / (Loss) of Rs. 126707.25 lacs for the year ending on 31-MAR-2011 against Rs. 104584.82 lacs for the year ending on 31-MAR-2010.
05-05-2011 Andhra Bank consolidated Results for the year ended on 31-MAR-2011 as follows: Interest earned of Rs. 829165.23 lacs for the year ending on 31-MAR-2011 against Rs. 637289.48 lacs for the year ending on 31-MAR-2010. Interest expended of Rs. 506933.7 lacs for the year ending on 31-MAR-2011 against Rs. 417709.58 lacs for the year ending on 31-MAR-2010. Net Profit / (Loss) of Rs. 126778.23 lacs for the year ending on 31-MAR-2011 against Rs. 104966.78 lacs for the year ending on 31-MAR-2010.
RESULTS TABLE
| Andhra Bank | 30-Jun-11 | 31-Mar-11 | 30-Jun-10 | |
| Interest on Advances | 216487 | 191775.86 | 149919.44 | 668,916.86 |
| Income on Investments | 45257 | 40877.25 | 35703.71 | 153,959.25 |
| Income on Balances With RBI | 497 | 653.2 | 758.08 | 3,084.20 |
| Others | 1182 | 3043.37 | 123.52 | 3,167.37 |
| Interest Earned | 263423 | 236349.68 | 186504.75 | 829,127.68 |
| Other Income | 21695 | 29897.78 | 20818.69 | 89,695.78 |
| Total Income | 285118 | 266247.46 | 207323.44 | 918,823.46 |
| Interest Expended | 172385 | 150195.74 | 112880.38 | 507,030.74 |
| NII | 91038 | 86153.94 | 73624.37 | 322096.94 |
| NII | 91038 | 5.67 | 23.65 | 13.06 |
| Employees Cost | 27307 | 29762.9 | 28698.25 | 110,421.90 |
| Other Operatng Expenses | 15460 | 15138.5 | 14705.17 | 60,064.50 |
| Operatng Expenses | 42767 | 44901.4 | 43403.42 | 170,486.40 |
| Total Expdr excl. provisions | 215152 | 195097.14 | 156283.8 | 677,517.14 |
| Operating Profit | 69966 | 71150.32 | 51039.64 | 241,306.32 |
| Provisions | 17695 | 30272.07 | 5198.79 | 64,599.07 |
| Profit before tax | 52271 | 40878.25 | 45840.85 | 176,707.25 |
| Tax Expense | 13700 | 9600 | 13800 | 50,000.00 |
| Net Profit | 38571 | 31278.25 | 32040.85 | 126,707.25 |
| Face Value (in Rs.) | 10 | 10 | 10 | 10 |
| Paid-up Equity | 55958 | 55958.04 | 48500 | 55,958.04 |
| Capital Adequacy Ratio | 12.29 | 13.48 | 12.9 | 13.48 |
| Basic EPS | 6.89 | 6.37 | 6.61 | 26.05 |
| Gross/Net NPA | 33740 | 27367.71 | 16976.48 | 27,367.71 |
| % of Gross/Net NPA | 0.45 | 0.38 | 0.3 | 0.38 |
| Return on Assets | 1.43 | 1.22 | 1.47 | 1.36 |
| Public holding (%) | 42 | 0 | 48.45 | - |
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