Thursday, January 12, 2012

Development Credit Bank Limited = DCB = RESULTS FOR Q3 FY 2012 = Q/E DEC,2011 = NPT UP BY 91.46% YOY


Development Credit Bank Limited

NSE Symbol        DCB

DEVELOPMENT CREDIT BANK  has performed well in the third quarter (Q3 FY 2012) ending Dec,2011.

Interest on Advances has risen to Rs.135.35 cr in Q3 (Current Qtr) – compared to Rs.132.93 in Q2 FY 12, the previous Qtr (Up by 1.82%); and Rs.104.71 cr (Up by 29.26%) in Q3 FY 11 (corresponding Qtr)

Income on Investments     has grown in current Qtr to Rs.45.58 cr – compared to Rs.43.65 cr in previous qtr (Up by 4.42%) and Rs.34.83 cr in corresponding Qtr (Up by 30.89%).

Interest Earned has gone up in current Qtr to Rs.183.48 cr – from Rs.178.52 cr in previous Qtr (Up by 2.78%) ; and Rs.140.22 Cr in corresponding Qtr (up by 30.85%).

Total Income     Stands at Rs.209.72 cr in current Qtr – compared to Rs.201.66 cr in previous qtr (Up by 4%) ; and Rs.166.23 cr in corresponding Qtr (Up by 26.16%).

Interest Expended stands at Rs.123.81 cr in current Qtr – compared to Rs.119.43 in previous qtr (Up by 3.67%) and Rs.90.91 Cr in corresponding Qtr (Up by 36.19%).

NET Interest Income (Earned – Expended) stands at Rs.59.67 Cr in current Qtr – compared to Rs.59.01 Cr (Up by 0.97%) in previous qtr ; and Rs.49.31 cr (Up by 21.01%) in corresponding Qtr.

Total Expenditure stands at Rs.187.21 cr in current Qtr – compared to Rs.180.79 in previous Qtr (Up by 3.55%) – and Rs.145.59 Cr in corresponding Qtr (Up by 28.59%).

Operating Profit stands at Rs.22.51 cr in current Qtr – compared to Rs.20.87 cr in previous qtr (Up by 7.88%) and Rs.20.65 Cr in corresponding Qtr (Up by 9.03%).

Provisions amount to Rs.6.87 Cr in current Qtr – compared to Rs.7.54 cr  in previous qtr (down by -8.9%) and Rs.9.38 cr in corresponding Qtr (down by -26.75%).

Profit before tax amounts to Rs.15.64 Cr in current Qtr – compared to Rs.13.33 cr (Up by 17.36%)in previous qtr ;  and Rs.11.27 cr (Up by 38.79%) in corresponding Qtr.

Net Profit  stands at Rs.15.64 Cr in current Qtr – compared to Rs.13.33 Cr (Up by       17.36%) in previous Qtr and Rs.8.17 Cr (Up by a huge 91.46%) in corresponding Qtr.

Paid-up Equity  is high at Rs.200.31 Cr – for the current level of operations.
Capital Adequacy Ratio   is reasonable at 13.

% of Gross/Net NPA stands at 1.03 in Q3 FY 12; compared to  0.97 in Q2 FY 12, the previous Qtr;         and 1.3 in Q3 FY 11, the corresponding Qtr.

Return on Assets stands at 0.77 – compared to 0.68 in previous qtr and 0.47 in corresponding qtr (Up by 63.83%).

Basic EPS stands at Rs.0.78 in Q3 FY 12; Rs.0.67 in Q2 FY 12; Rs.0.44 in Q1 FY 12; Rs.0.57 in Q4 FY 11; and Rs.0.41 in Q3 FY 12. Thus, there is steady improvement in EPS from quarter to quarter. The total annual EPS is likely to be around Rs.2.67 on a Face value of Rs.10.

The current Market price is Rs.41.70 while the 52 week high price is Rs.66 and the 52 week low price is Rs.30.20.

The PE Ratio is 15.62,. DCB is one of the small Banks but is growing steadily.

RESULTS TABLE :

D C B
31-Dec-11
30-Sep-11
% DIF 1
30-Jun-11
31-Mar-11
31-Dec-10
% DIF 2
Interest on Advances
13535.18
13292.63
1.82
12277.97
11270.69
10471.45
29.26
Income on Investments
4558.4
4365.37
4.42
3737.55
3539.94
3482.58
30.89
Income on Balances With RBI
177.39
178.71
-0.74
148.81
12.13
67.86
161.41
Others
77.22
15.77
389.66
-
-
-

Interest Earned
18348.19
17852.48
2.78
16164.33
14822.76
14021.89
30.85
Other Income
2623.9
2313.02
13.44
2344.43
2925.47
2601.42
0.86
Total Income
20972.09
20165.5
4
18508.76
17748.23
16623.31
26.16
Interest Expended
12381.32
11942.73
3.67
10975.97
9804.15
9091.19
36.19
Employees Cost
3168.05
3153.54
0.46
3041.14
2920.66
2731.89
15.97
Other Operating Expenses
3171.81
2982.65
6.34
2839.3
2823.67
2735.72
15.94
Operating Expenses
6339.86
6136.19
3.32
5880.44
5744.33
5467.61
15.95
Total Expenditure
18721.18
18078.92
3.55
16856.41
15548.48
14558.8
28.59
Operating Profit
2250.91
2086.58
7.88
1652.35
2199.75
2064.51
9.03
Provisions
686.81
753.88
-8.9
769.26
803.78
937.58
-26.75
Profit before tax
1564.1
1332.7
17.36
883.09
1395.97
1126.93
38.79
Tax Expense
-
-

-
261.34
310

Net Profit
1564.1
1332.7
17.36
883.09
1134.63
816.93
91.46
Face Value (Rs.)
10
10
0
10
10
10
0
Paid-up Equity
20030.66
20022.75
0.04
20019.91
20017.12
20016.1
0.07
Capital Adequacy Ratio
13
13.1
-0.76
12.92
13.25
13.39
-2.91
Basic EPS
0.78
0.67
16.42
0.44
0.57
0.41
90.24
Gross/Net NPA
4427
4205
5.28
5044
4123
5150
-14.04
 % of Gross/Net NPA
1.03
0.97
6.19
1.19
0.97
1.3
-20.77
Return on Assets
0.77
0.68
13.24
0.47
0.63
0.47
63.83
Public holding (%)
76.94
76.93
0.01
76.92
76.92
76.92
0.03


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