IDBI Bank Limited - QTRLY RESULTS - Q3 FY 2012 - 3rd Q/E DEC,2011 - TOTAL INCOME UP 22% ; NPT DOWN 10% YoY

IDBI Bank Limited

NSE Symbol        IDBI

IDBI BANK has released results for 3^rd quarter ending Dec,2011.

Interest on Advances stands at Rs.4492.84 cr in Q3 FY 12 – up by  0.39% from Q2 FY 12; up by  4.49% from q1 Fy12; and up by  28.78% from Q3 FY 11.

Income on Investments        stands at Rs.1349.40 cr in Q3 FY 12; up by  1.32% from q2 FY 12; up by  5.29% from Q1 FY 12; and up by  11.62% from Q3 FY 11.

Interest Earned stands at Rs.5849.21 cr in Q3 FY 12; up by  0.63% from Q2 FY 12; up by          3.91% from Q1 FY 12; and up by  24.13% from Q3 FY 11.

Other Income stands at Rs.431.83 cr  in Q3 FY 12 – down by     -9.87% from Q2 FY 12;        up by  0.22% from Q1 FY 12; and down by  -3.44% from Q3 FY 11.

Total Income stands at Rs.6281.04 cr – down by  -0.16% from Q2 FY 12; up by  3.65% from Q1 Fy 12; and up by  21.74% from Q3 FY 11.

Interest Expended stands at Rs.4789.74 Cr – up by  2.12% from Q2 FY 12; and up by  7% from Q1 FY 12; and up by  36.53% from Q3 FY 11.

Net Interest Income stands at Rs.1059.47 Cr – down by    -5.57% from Q2 FY 12; and down by  -8.07% from Q1 FY 12; and down by  -12.01% from Q3 FY 11.

Operating Profit stands at Rs.824.34 cr – down by  -18.1% from Q2 FY 12; down by  -20% from Q1 FY 12; and down by  -27.34% from Q3 FY 11

Provisions  stands at Rs.406.44 cr – up by  26.79% from Q2 FY 12; down by  -4.52% from Q1 FY 12; and down by  -37.66% from Q3 FY 11.

Profit before tax stands  at Rs.417.90 cr – down by   -39.1% from Q2 FY 12;  down by  -30.9% from Q1 FY 12; and down by  -13.4% from Q3 FY 11.

Tax Expense stands at Rs.8.09 Cr – down by  -95.2% from Q2 FY 12; down by  -97% from Q1 FY 12;  and down  by  -71.61% from Q3 FY 11.

Net Profit in Q3 FY 12 stands at Rs.409.81  - compared to Rs.515.91  cr in Q2 FY 12 (down by  -20.6%) – Rs.335.10 Cr in Q1 FY 12 (Up by  22.29%) – and Rs.454.08 Cr in Q3 FY 11 (down by  -9.75%).

Capital Adequacy Ratio stands comfortably at  13.53%.

% of Gross/Net NPA stands at 1.96% in Q3 FY 12; 1.57% in Q2 FY 12; 1.25% in Q1 FY 12;          1.2% in Q3 FY 11.

Return on Assets is  0.66% in Q3 FY 12; 0.84% in Q2 FY 12;  0.54 in Q1 FY 12; and 0.83 in Q3 FY 11.

Basic EPS (On FV of Rs.10) – stands at Rs.4.16 in Q3 FY 12; Rs.5.24 in Q2 FY 12; Rs.3.4 in Q1 FY 12;and Rs.4.61 in Q3 FY 11.

Annual EPS is likely to be around Rs.16.96

The current Market Price of Rs.10 share is Rs. 101.75;  While the  52 week high price is Rs.153.75 and the  52 week low price is Rs.77.10.

The PE Ratio is 6.

RESULTS TABLE

IDBI BANK	31-Dec-11	30-Sep-11	%Dif1	30-Jun-11	%dif2	31-Dec-10	%dif3
Interest on Advances	449284	447532	0.39	429990	4.49	348890	28.78
Income on Investments	134940	133186	1.32	128159	5.29	120896	11.62
Income on Balances With RBI	518	370	40	562	-7.83	668	-22.46
Others	179	144	24.31	4182	-95.7	779	-77.02
Interest Earned	584921	581232	0.63	562893	3.91	471233	24.13
Other Income	43183	47910	-9.87	43090	0.22	44721	-3.44
Total Income	628104	629142	-0.16	605983	3.65	515954	21.74
Interest Expended	478974	469031	2.12	447649	7	350830	36.53
Net Interest Income	105947	112201	-5.57	115244	-8.07	120403	-12.01
Employees Cost	29412	26567	10.71	24402	20.53	16584	77.35
Other Oprtng Expenses	37284	32898	13.33	30852	20.85	35087	6.26
Oprtng Expenses	66696	59465	12.16	55254	20.71	51671	29.08
Total Exp(Excl.Provi)	545670	528496	3.25	502903	8.5	402501	35.57
Operating Profit	82434	100646	-18.1	103080	-20	113453	-27.34
Provisions	40644	32055	26.79	42570	-4.52	65195	-37.66
Profit before tax	41790	68591	-39.1	60510	-30.9	48258	-13.4
Tax Expense	809	17000	-95.2	27000	-97	2850	-71.61
Net Profit	40981	51591	-20.6	33510	22.29	45408	-9.75
Face Value (Rs.)	10	10	0	10	0	10	0
Paid-up Equity	98462	98461	0	98461	0	98453	0.01
Capital Adequacy Ratio	13.53	13.34	1.42	13.83	-2.17	14.1	-4.04
Basic EPS	4.16	5.24	-20.6	3.4	22.35	4.61	-9.76
Diluted EPS	3.9	5.24	-25.6	3.4	14.71	4.61	-15.4
Gross/Net NPA	305787	244287	25.18	193280	58.21	160951	89.99
% of Gross/Net NPA	1.96	1.57	24.84	1.25	56.8	1.2	63.33
Return on Assets	0.66	0.84	-21.4	0.54	22.22	0.83	-20.48
Public holding (%)	34.87	34.87	0	34.87	0	34.86	0.03

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