Monday, January 16, 2012

ING VYSYA BANK = RESULTS = FOR Q3 FY 2012 = Q/E DEC,2011 = NPT UP 3%QOQ; 44%YOY = CONSISTENT PROGRESS


ING Vysya Bank Limited

NSE Symbol        INGVYSYABK

ING VYSYA bank has performed well in 3rd qtr ending Dec,2011.

Interest on Advances has gone up to Rs.737.09 cr in current qtr (Q3 FY 12 ending Dec,2011)  - compared to Rs.691.85 cr (Up by 6.54%) in previous qtr (Q2 FY 12 ending Sep,2011) – and Rs.523.32 cr (Up by 40.85%) in the corresponding qtr  of  Q3 FY 11 ending Dec,2010.

Income on Investments in current Qtr stands at Rs. 253.88 cr – compared to Rs.239.96 Cr (Up by 5.8%) in previous qtr and Rs.161.35 cr(Up by 57.35%) in corresponding qtr.

Interest Earned in current Qtr stands at Rs.991.51 cr – compared to Rs.933.07 cr in previous qtr (Up by 6.26%) – and Rs.690.72 cr (Up by 43.55%) in corresponding Qtr.

Other Income in current Qtr stands at Rs.169.94 cr – compared to Rs.162.46 cr (Up by 4.6%) in previous qtr – and Rs.166.79 cr (Up by 1.89%) in corresponding qtr.

Total Income stands at Rs.1161.45 cr in current qtr – compared to Rs.1095.53 cr (Up by 6.02%) in previous qtr and  Rs.857.51 cr (Up by 35.44%) in corresponding Qtr.

Interest Expended in current Qtr stands at Rs.667.93 cr – compared to Rs.629.45 cr (Up by 6.11%) in previous qtr – and Rs.444.80 cr (Up by 50.16%) in corresponding Qtr.

NII (Earned – Expended) stands at Rs.323.58 cr in current Qtr – compared to Rs.303.62 cr (Up By 6.57%) in previous qtr – and Rs.245.92 cr (Up by 31.58%) in corresponding Qtr.

Operating Profit in current Qtr stands at Rs.211.32 cr – compared to Rs.189.42 cr (Up by 11.56%) in previous Qtr – and Rs.159.44 cr (Up by 32.54%) in corresponding Qtr.

Provisions in current Qtr stands at Rs.33.44 cr – compared to Rs.17.48 cr(Up by 91.3%) in previous qtr  - and Rs.33.64 Cr (down by -0.59%) in corresponding Qtr.

Profit before tax stands at Rs.177.88 cr in current Qtr – compared to Rs.171.94 cr (Up by 3.45%) in previous qtr and Rs.125.80 cr (Up by 41.4%) in corresponding qtr.

Tax Expense in current qtr stands at Rs.58.36 cr in current Qtr – compared to Rs.56.57 cr (Up by 3.16%) in previous qtr – and Rs.42.79 cr (Up by 36.39%) in corresponding qtr.

Net Profit  stands at Rs.119.52 cr in current Qtr – compared to Rs.115.37 cr(Up by 3.6%) in previous Qtr – and Rs.83.01 cr (Up by 43.98%) in corresponding Qtr.

Capital Adequacy Ratio is very comfortable at 14.08.

% of Gross/Net NPA is very good at 0.31% -down from 0.64%  in corresponding Qtr.

Return on Assets is good at 1.13 – up from 0.88 in corresponding Qtr.

Basic EPS  stands at Rs.7.98 in Q3 FY 12; Rs.7.71 in Q2 FY 12; Rs.7.62 in Q1 FY 12; Rs.7.55 in Q4 FY 11; and Rs.6.88 in Q3 FY 11 – reflecting steady increase.

The annual EPS for current year may be around Rs.31.3 on a Face value of Rs.10.

Current Market price is Rs.311.55 while the 52 week high price  is Rs.377 and the 52 week low price  is Rs.275.

The PE Ratio is  9.05 . In a normal market, the Bank will command much higher valuations.

RESULTS  TABLE

ING VYSYA
31-Dec-11
30-Sep-11
% DIF1
30-Jun-11
31-Mar-11
31-Dec-10
% DIF2
Interest on Advances
73709
69185
6.54
65217
59136
52332
40.85
Income on Investments
25388
23996
5.8
21527
18012
16135
57.35
Income on Balances With RBI
7
10
-30
10
72
92
-92.39
Others
47
116
-59.48
323
471
513
-90.84
Interest Earned
99151
93307
6.26
87077
77691
69072
43.55
Other Income
16994
16246
4.6
14052
17051
16679
1.89
Total Income
116145
109553
6.02
101129
94742
85751
35.44
Interest Expended
66793
62945
6.11
60881
50857
44480
50.16
NII
32358
30362
6.57
26196
26834
24592
31.58
Employees Cost
17040
16123
5.69
14672
17580
14535
17.23
Other Oprting Expenses
11180
11543
-3.14
10893
11985
10792
3.6
Oprting Expenses
28220
27666
2
25565
29565
25327
11.42
Total Expenditure excl.provisions
95013
90611
4.86
86446
80422
69807
36.11
Operating Profit
21132
18942
11.56
14683
14320
15944
32.54
Provisions
3344
1748
91.3
621
427
3364
-0.59
Profit before tax
17788
17194
3.45
14062
13893
12580
41.4
Tax Expense
5836
5657
3.16
4660
4763
4279
36.39
Net Profit
11952
11537
3.6
9402
9130
8301
43.98
Face Value(Rs.)
10
10
0
10
10
10
0
Paid-up Equity
15001
14980
0.14
14958
12099
12083
24.15
Capital Adequacy Ratio
14.08
15
-6.13
15.89
12.94
12.69
10.95
Basic EPS
7.98
7.71
3.5
7.62
7.55
6.88
15.99
Diluted EPS
7.9
7.62
3.67
7.52
7.41
6.77
16.69
Gross/Net NPA
8080
7766
4.04
8380
9178
13725
-41.13
 % of Gross/Net NPA
0.31
0.31
0
0.35
0.39
0.64
-51.56
Return on Assets
1.13
1.12
0.89
0.95
0.99
0.88
28.41
Public holding (%)
56.28
56.22
0.11
0
56.75
56.71
-0.76

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