INDUSIND BANK
Q3 FY 2012 RESULTS
IndusInd Bank
has announced excellent numbers in its results for Q3 FY 2012 ending December,
2011.
The performance High lights are indicated
below :
Interest on Advances stands at Rs.1082.69 cr in Q3 FY 12 (current Qtr)–
compared to Rs.1037.10 (+4.4%) in the previous quarter of Q2 FY 12 and
Rs.723.08cr (+49.73%) in the corresponding Qtr of Q3 FY 11.
Income on Investments stands at Rs.293.58 cr in current quarter – compared
to Rs.267.22 Cr (+9.86%) in prev.Qtr and
Rs.187.43 Cr (+56.63%) in corresp.Qtr.
Interest Earned stands at Rs.1389.74 cr – compared to Rs.1323.86
cr(+4.98%) in prev.qtr and Rs.914.91 cr(+51.9%) in corresp.Qtr.
Total Income stands at Rs.1654.86 cr in Q3 FY 12 – against Rs.1563.07
cr(+5.87%) in prev.qtr and Rs.1110.86 cr(+48.97%) in Corresp.Qtr.
Interest Expended stands at Rs.959.09 cr in Q3 FY 12 – against Rs.904.67
cr(+6.02%) in prev.qtr and Rs.551.91 cr(+73.78%) in corresp.qtr.
Net Interest Income stands at Rs.430.65
cr in Q3 FY 12 – compared to Rs.419.19 cr(+2.73%) in prev. Qtr and Rs.363 cr (+18.64%)
in corresp. Qtr.
Total Expenditure stands at Rs.1305.62 cr in Q3 FY 12 – against Rs.1230.09
cr(+6.14%) in prev.qtr and Rs.819.68 cr (+59.28%) in corresp.Qtr.
Operating Profit stands at Rs.349.24 cr in Q3 FY 12 – against Rs.332.98
cr(+4.88%) in prev.qtr and Rs.291.18 cr(+19.94%) in Corresp.Qtr.
Provisions have come down to Rs.42.83 cr in Q3 FY 12 – from
Rs.46.97 cr(-8.81%) in prev.qtr and Rs.56.19 cr(-23.78%) in corresp. Qtr.
Profit before tax stands at Rs.306.41 cr in Q3 FY 12 –compared to Rs.286.01
cr(+7.13%) in prev. Qtr and Rs.234.99 cr(+30.39%) in corresp.qtr.
Net Profit for Q3 FY 12 stands at Rs.205.96 cr – against Rs.193.09
cr (+6.67%) in prev. Qtr and Rs.153.86 cr (+33.86%) in corresp. Qtr.
Capital Adequacy Ratio stands comfortably at 13.43%.
Basic EPS on a Face Value of Rs.10 stands at Rs.4.41 in Q3 FY
12; Rs.4.14 in Q2 FY 12; Rs.3.87 in Q1 FY 12; Rs.3.69 in Q4 FY 11 and Rs.3.32
in Q3 FY 11. The YOY increase is 32.83%. The sequential rise in EPS is
excellent throughout the 5 quarters.
% of Gross/Net NPA stands comfortably at a mere 0.29 in Q3 FY 12; compared to 0.31 in
previous qtr and 0.36 in corresponding qtr.
Return on Assets is almost uniform throughout at 1.55 – which is also
very impressive.
At
the current rate, the annual EPS for FY 12 should be above Rs.17.
The current
Market rate is Rs.262 – with the 52 week high price at
Rs.292 and the 52 week low price at Rs.200. The PE Ratio is around 15.41. At the
current Rate of progress, in a normal market, IndusInd Bank will scale new
heights very easily. It is a very good buy for medium / long term Investors.
RESULTS TABLE
INDUSIND
|
31-Dec-11
|
30-Sep-11
|
% DIF
|
30-Jun-11
|
31-Mar-11
|
31-Dec-10
|
% DIF
|
||||||||
Interest on Advances
|
108269
|
103710
|
4.4
|
90069
|
82971
|
72308
|
49.73
|
||||||||
Income on Investments
|
29358
|
26722
|
9.86
|
24738
|
20623
|
18743
|
56.63
|
||||||||
Income on Balances With RBI
|
345
|
445
|
-22.5
|
424
|
348
|
433
|
-20.32
|
||||||||
Others
|
1002
|
1509
|
-33.6
|
1227
|
942
|
7
|
14214
|
||||||||
Interest Earned
|
138974
|
132386
|
4.98
|
116458
|
104884
|
91491
|
51.9
|
||||||||
Other Income
|
26512
|
23921
|
10.83
|
21540
|
18163
|
19595
|
35.3
|
||||||||
Total Income
|
165486
|
156307
|
5.87
|
137998
|
123047
|
111086
|
48.97
|
||||||||
Interest Expended
|
95909
|
90467
|
6.02
|
77457
|
66076
|
55191
|
73.78
|
||||||||
Employees Cost
|
12612
|
11522
|
9.46
|
11071
|
10022
|
9795
|
28.76
|
||||||||
Other Oprting Expenses
|
22041
|
21020
|
4.86
|
18298
|
17146
|
16982
|
29.79
|
||||||||
Oprting Expenses
|
34653
|
32542
|
6.49
|
29369
|
27168
|
26777
|
29.41
|
||||||||
Total Expenditure
|
130562
|
123009
|
6.14
|
106826
|
93244
|
81968
|
59.28
|
||||||||
Operating Profit
|
34924
|
33298
|
4.88
|
31172
|
29803
|
29118
|
19.94
|
||||||||
Provisions
|
4283
|
4697
|
-8.81
|
4459
|
4025
|
5619
|
-23.78
|
||||||||
Profit before tax
|
30641
|
28601
|
7.13
|
26713
|
25778
|
23499
|
30.39
|
||||||||
Tax Expense
|
10045
|
9292
|
8.1
|
8695
|
8602
|
8113
|
23.81
|
||||||||
Net Profit
|
20596
|
19309
|
6.67
|
18018
|
17176
|
15386
|
33.86
|
||||||||
Face Value (in Rs.)
|
10
|
10
|
0
|
10
|
10
|
10
|
0
|
||||||||
Paid-up Equity
|
46692
|
46675
|
0.04
|
46616
|
46597
|
46510
|
0.39
|
||||||||
Reserves
|
-
|
-
|
-
|
335890
|
-
|
||||||||||
Capital Adequacy Ratio
|
13.43
|
14.32
|
-6.22
|
14.99
|
15.89
|
15.61
|
-13.97
|
||||||||
Basic EPS
|
4.41
|
4.14
|
6.52
|
3.87
|
3.69
|
3.32
|
32.83
|
||||||||
Gross/Net NPA
|
9355
|
9312
|
0.46
|
8378
|
7282
|
9099
|
2.81
|
||||||||
% of Gross/Net NPA
|
0.29
|
0.31
|
-6.45
|
0.3
|
0.28
|
0.36
|
-19.44
|
||||||||
Return on Assets
|
1.55
|
1.55
|
0
|
1.59
|
1.55
|
1.54
|
0.65
|
||||||||
Public holding (%)
|
80.5
|
80.5
|
0
|
80.47
|
80.46
|
80.43
|
0.09
|
||||||||
Note :- EPS is - Rs.12.43 for
9m.of FY12; 9.43 for 9m. of FY 11; +32% Increase
Ø Net Interest Margin (NIM) for the current quarter was 3.25 % as
against 3.35% in the Q2 FY 2011-12.
Ø CASA (Current Accounts- Savings Accounts) Ratio stands at 26.52 %; SA up by 54% YoY,
21%.
Ø Restructured loans down to 0.22%
Performance
highlights for the
9-month
period ended Dec 31, 2011
Ø
Net Profit for the
9-month period ended December 31, 2011 was Rs. 579.23 crore as against Rs.
405.56 crore in the corresponding period of the previous year, up 43 %
Ø
Net Interest
Income (NII) was Rs. 1239.86 crore as compared to Rs. 988.41
crore in the corresponding period of the previous year, up 25 %
Ø
Operating
Profit
for the 9-month period ended December 31, 2011 was Rs. 993.94 crore as
against Rs. 783.64 crore in the corresponding period of the previous year, up
27 %.
Ø
As on December 31, 2011 the total Advances were at Rs. 32,426 crore and total Deposits were at Rs. 40,558 crore, showing a YoY growth of
30 % and 32 % respectively
Ø
Gross NPA in
current Q3 stands at 1.02 % as compared to 1.21% for the corresponding period
of the previous year.
Ø
Net NPA as at
December 31, 2011 stands at 0.29 % as compared to 0.36% for the corresponding
period of the previous year
Ø
Increase in Branch network from 258 and 565 ATMs the previous year to 365
branches and 674 ATMs as on December 31, 2011.
Commenting
on the performance, Mr. Romesh Sobti, MD & CEO,
IndusInd Bank said, “Despite a weak and jittery global economy together with
the domestic slowdown, we have shown an all around improved performance. In
particular, inspite of challenging environment, our Gross and Net NPA
percentage have shrunk, which is testimony to the quality of our loan book. The
recent interest hike in the Saving Bank has helped us to grow our SA deposit
base both in terms of New to Bank (NTB) customer acquisition and volumes. The
growth in core fee income has showcased the Bank’s sustained performance.”
* *
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