Wednesday, February 1, 2012

CENTRAL BANK OF INDIA - QTRLY RESULTS - Q3 FY 2012 - Q/E DEC, 2011 - NET PROFIT DOWN HEAVILY


Central Bank of India
NSE Symbol           CENTRALBK

CENTRAL BANK OF INDIA has declared BELOW PAR RESULTS  for the third quarter ending Dec, 2011.

Interest on Advances stands at Rs.3546.66 Cr in Q3 FY 12 – down by -1.96% from Q2 FY 12; UP by 0.63% from Q1 FY 12; and up by 20.34% from Q3 FY 11.

Income on Investments stands at Rs.1119.91 Cr in Q3 FY 12; up by 2.98% from Q2 FY 12; up by 10.84% from Q1 FY 12; and Up by 16.48% from Q3 FY 11.

Interest Earned stands at Rs.4741.49 Cr in Q3 FY 12 ; down by -3.42% from Q2 FY 12; Up by 4.02% from Q1 FY 12; and up by 20.55% from Q3 FY 11.

Other Income stands at Rs.357.37 Cr in Q3 FY 12; up by 10.16% from Q2 FY 12; Up by 26.79% from Q1 FY 12; and up by  43.22% from Q3 FY 11.

Total Income stands at Rs.5098.86  Cr in Q3 FY 12 ; down by -2.58% from Q2 FY 12; up by 5.35% from Q1 FY 12; and up by 21.91% fromQ3 FY 11. While improvement over Q1 FY 12 and Q3 FY 11 is OK , there is a reduction with reference to the preceding Qtr of Q2 FY12.

Interest Expended stands at Rs.3562.93 Cr in Q3 FY 12; up by 1.41% from Q2 FY 12; up by 10.38% from Q1 FY 12; and up by 42.43% from Q3 FY 11. Interest Expended has increased in % terms  much more than  Interest Earned.

Consequently - Net Interest Income stands at Rs.1178.56 cr -  down by  -15.58% from Q2 FY 12; -6.36% from Q1 FY 12; and  -17.67% from Q3 FY 11. It is down with reference to all the 3 compared Quarters.

Total Expdr(Excl.Prov) stands at Rs.4485.01 Cr in Q3 FY 12 ; up by  1.07% from Q2 FY 12; up by 10.78% from Q1 FY 12; and up by  33.18% from Q3 FY 11. The increase in expenditure is more than Proportionate compared to Net Sales.

Consequently - Operating Profit stands at Rs.613.85 Cr in Q3 FY 12; down by  -22.95% from Q2 FY 12; down by  -22.46% from Q1 FY 12; and down by  -24.67% from Q3 FY 11 – down with reference to all 3 quarters.

Provisions increased heavily and stands at Rs.486.36 Cr in Q3 FY 12; up by  12.89% from Q2 FY 12; up by 23.84% from Q1 FY 12; and up by  156.07% from Q3 FY 11.

Exceptional Items (Of Expense)  stands at Rs(-)112.38 Cr in Q3 FY 12.     

Profit  before tax stands at Rs.239.87 Cr in Q3 FY 12; down   by  -34.44% from Q2 FY 12; down by -39.87% from Q1 FY 12; and down  by  -61.62% from Q3 FY 11 –down with reference to all 3 quarters.

Tax Expense  stands at Rs.126.63 Cr in Q3 FY 12 ;  up  by 4.13% from Q2 FY 12; up by 7.2% from Q1 FY 12; down by -42.82% from Q3 FY 11.

Net Profit stands finally at Rs.113.24 Cr in Q3 FY 12; down  by -53.64% from Q2 FY 12; down by -59.67% from Q1 FY 12; and down by -71.94% from Q3 FY 11 – down heavily with reference to all 3 Quarters.

Capital Adequacy Ratio stands comfortably at  12.2%.

% of Gross/Net NPA has increased considerably and stands at  2.04% in Q3 FY 12;  1.37% in Q2 FY 12;  0.87%  in Q1 FY 12;  0.71% from Q3 FY 11.

Return on Assets stands at 0.22% in Q3 FY 12; 0.46% in Q2 FY 12; 0.56% in Q1 FY 12;  0.89% in Q3 FY 11. It has come down heavily.

Basic EPS on a FV of Rs.10 stands at Rs.0.94 in Q3 FY 12; Rs.3.21 in Q2 FY 12; Rs.3.87 in Q1 FY 12;  and Rs.9.2 in Q3 FY 11.The 4th Quarter could be better – with additional CRR funds coming into play.But – we will need to watch for the Q4 Results.

The current Market Price is Rs.86.10; While the  52 week high price is Rs.190 and the 52 week low price is Rs.63.10.

RESULTS TABLE

CENTRAL BANK
31-Dec-11
30-Sep-11
%DIF1
30-Jun-11
%DIF2
31-Dec-10
%DIF3
Interest on Advances
354666
361751
-1.96
352436
0.63
294717
20.34
Income on Investments
111991
108754
2.98
101040
10.84
96148
16.48
Income on Balances With RBI
7492
20458
-63.38
2351
218.7
2428
208.57
Interest Earned
474149
490963
-3.42
455827
4.02
393306
20.55
Other Income
35737
32442
10.16
28187
26.79
24953
43.22
Total Income
509886
523405
-2.58
484014
5.35
418259
21.91
Interest Expended
356293
351349
1.41
322792
10.38
250149
42.43
Employees Cost
64092
64661
-0.88
58752
9.09
62563
2.44
Other Oprtng Expenses
28116
27726
1.41
23306
20.64
24057
16.87
Oprtng Expenses
92208
92387
-0.19
82058
12.37
86620
6.45
Total Expdr(Excl.Prov)
448501
443736
1.07
404850
10.78
336769
33.18
Operating Profit
61385
79669
-22.95
79164
-22.46
81490
-24.67
Provisions
48636
43083
12.89
39273
23.84
18993
156.07
Exceptional Items
-11238
-

-

-

Profit  before tax
23987
36586
-34.44
39891
-39.87
62497
-61.62
Tax Expense
12663
12161
4.13
11813
7.2
22145
-42.82
Net Profit
11324
24425
-53.64
28078
-59.67
40352
-71.94
Face Value(Rs.)
10
10
0
10
0
10
0
Paid-up Equity
64661
64661
0
64661
0
40414
60
Capital Adequacy Ratio
12.2
12.24
-0.33
12.33
-1.05
10.88
12.13
Basic EPS
0.94
3.21
-70.72
3.87
-75.71
9.2
-89.78
Gross/Net NPA
266880
175502
52.07
108224
146.6
80899
229.89
% of Gross/Net NPA
2.04
1.37
48.91
0.87
134.5
0.71
187.32
Return on Assets
0.22
0.46
-52.17
0.56
-60.71
0.89
-75.28
Public holding (%)
19.79
19.79
0
19.79
0
19.8
-0.05

*  *  *  E  N  D  *  *  *

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