Monday, December 19, 2011

DENA BANK=Q2 FY 2012 RESULT - Q/E SEP 2011 = NPT UP 7.08%; AN.EPS:RS.23;PE :2.42 = CONSISTENT VERY GOOD PERFORMER


DENA BANK

SECOND QUARTER RESULT
Q2 FY 2012


DENA BANK has released very good results for Q2 FY 2012 ending Sep,2011.

Interest on Advances has gone up to Rs.     1225.87 Cr from Rs.1177.14 cr in Q1 FY 12(+4.14%) and from Rs.913.21 cr (+34.24%) in Q2 FY 11.

Income on Investments has increased to Rs.396.60 cr from Rs.34618 in Q1 FY 12(+14.56%) and from Rs.303.43 cr (+30.71%) in Q2 FY 11.

Interest Earned        totally has increased to Rs.1633.82 cr from Rs.1528.18 cr in Q1 FY 12 (+6.91%) and from Rs.1221.47 Cr (+33.76%) in Q2 FY 11.

Total Income has increased to Rs.1747.19 cr from Rs.1652.53 cr in Q1 FY 12 (+5.73%) and from Rs.1340.38% in Q2 FY 11 (+30.35%).

Interest Expended has gone up to Rs.1118.93 Cr from   Rs.1081.63 cr (+3.45%) in Q1 FY 12; and from Rs.756.20 cr in Q2 FY 11 (+47.97%)

Total Expenditure has gone up to Rs.1395.18 cr from Rs.       1344.79 cr in Q1 FY 12 (+3.75%) and from Rs.1014.74 cr in Q2 FY 11(+37.49%).

Operating Profit has gone up to Rs.352.01 Cr from Rs.307.74 cr in Q1 FY 12 (+14.39%) and from Rs.325.64 cr in Q2 FY 11 (+8.1%)

Provisions has gone up to Rs.81.33 Cr from Rs.65.49 cr in Q1 FY 12 (+24.19%) and from Rs.72.85 cr in Q2 FY 11(+11.64%)

Profit before tax has gone up to Rs.270.68 cr from Rs.242.25 cr in Q1 FY12 (+11.74%) and from Rs.252.79 cr in Q2 FY 11(+7.08%)

Net Profit has gone up to Rs.193.58 Cr from Rs.168.09 cr in Q1 FY 12 (+15.16%) and from Rs.160.63 cr in Q2 FY 11 (+20.51%)

Capital Adequacy Ratio is comfortable at 12.55

% of Gross/Net NPA stands at 1.15% compared to 1.08% in Q1 FY 12 and 1.49% in Q2 FY 11.

Return on Assets is good at 1.11 compared to 0.97 in Q1 FY 12 and 1.09 in Q2 FY 11.

Basic EPS has gone up to Rs.5.81 in Q2 FY 12 from Rs.5.04 in Q1 FY 12 and from Rs.5.6 in Q2 FY 11.

The Annualised EPS can be around Rs.23.

The current Market price is Rs.55.75 (52 week high price : 122.40 and  52 week low price : Rs.55.35).

The current PE Ratio works out to 2.42 – which is very Low for Dena Bank. In a Normal market, Dena Bank must command a much higher price than its 52 week High also.

FINANCIAL PERFORMANCE

DENA BANK
30-Sep-11
30-Jun-11
% INCREASE
30-Sep-10
% INCREASE
Interest on Advances
122587
117714
4.14
91321
34.24
Income on Investments
39660
34618
14.56
30343
30.71
Income on Balances With RBI
1134
486
133.33
482
135.27
Others
1
-

1
0
Interest Earned
163382
152818
6.91
122147
33.76
Other Income
11337
12435
-8.83
11891
-4.66
Total Income
174719
165253
5.73
134038
30.35
Interest Expended
111893
108163
3.45
75620
47.97
Employees Cost
16263
16811
-3.26
16251
0.07
Other Oprting Expenses
11362
9505
19.54
9603
18.32
Operating Expenses
27625
26316
4.97
25854
6.85
Total Expenditure
139518
134479
3.75
101474
37.49
Operating Profit
35201
30774
14.39
32564
8.1
Provisions
8133
6549
24.19
7285
11.64
Profit before tax
27068
24225
11.74
25279
7.08
Tax Expense
7710
7416
3.96
9216
-16.34
Net Profit
19358
16809
15.16
16063
20.51
Face Value(Rs.)
10
10
0
10
0
Capital Adequacy Ratio
12.55
13.14
-4.49
10.31
21.73
Basic EPS
5.81
5.04
15.28
5.6
3.75
Diluted EPS
5.81
5.04
15.28
5.6
3.75
Gross/Net NPA
49101
45824
7.15
53779
-8.7
 % of Gross/Net NPA
1.15
1.08
6.48
1.49
-22.82
Return on Assets
1.11
0.97
14.43
1.09
1.83

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