UCO Bank
NSE Symbol UCOBANK]
U CO Bank
has released its results for Q4 FY 12 and FY 2012.
Interest on Advances
in Q4 FY 12 stands at Rs.3105.60 Cr; compared to Rs.2892.55 Cr (up 7.37%) in Q3
FY 12; and Rs.2297.55 Cr (Up 35.17%) in Q4 Fy 11.
Income on Investments in
Q4 FY 12 stands at Rs.819.69 Cr; compared to Rs.824.03 Cr (down -0.53%) in Q3
FY 12; and Rs.727.57 Cr (Up 12.66%) in Q4
Fy 11.
Interest Earned in Q4 FY 12 stands at Rs.3964.64 Cr; compared
to Rs.3738.28 Cr (up 6.06 %) in Q3 FY 12;
and Rs.3068.49 Cr (Up 29.2%) in Q4 Fy 11.
Total Income in Q4 FY 12 stands at Rs.4216.63 Cr;
compared to Rs.3973.62 Cr (up 6.12%) in Q3 FY 12; and Rs.3360.55 Cr (Up 25.47%)
in Q4 Fy 11.
Interest Expended
in Q4 FY 12 stands at Rs.2914.05 Cr; compared to Rs.2705.53 Cr (up 7.71%) in Q3 FY 12; and Rs.2224.21 Cr
(Up 31.02%) in Q4 Fy 11.
NII in
Q4 FY 12 stands at Rs.1050.59 Cr; compared to Rs.1032.75 Cr (up 1.73%) in Q3 FY
12; and Rs.844.28 Cr (Up 24.44%) in Q4
Fy 11.
Total Expenditure(excl.provisions) in Q4 FY 12 stands at Rs.3488.51 Cr; compared to Rs.3212.64 Cr (up 8.59%) in Q3 FY 12; and Rs.2780.66 Cr
(Up 25.46%) in Q4 Fy 11. Expenditure is keeping pace with Income and needs more
control. For this reason, OPT is down from previous Qtr though Up from
corresponding Qtr.
Operating Profit
in Q4 FY 12 stands at Rs.728.12 Cr;
compared to Rs.760.98 Cr (down -4.32%) in Q3 FY 12; and Rs.579.89 Cr (Up 25.56%)
in Q4 Fy 11.
Provisions
in Q4 FY 12 stands at Rs.456.09 Cr; compared to Rs.420.45 Cr (up 8.48%) in Q3
FY 12; and Rs.340.77 Cr (Up 33.84%) in Q4 Fy 11. Provisions have gone up
considerably compared to both Qtrs.
Profit before tax
in Q4 FY 12 stands at Rs.272.03 Cr; compared to Rs.340.53 Cr (down -20.12%) in
Q3 FY 12; and Rs.239.12 Cr (Up 13.76%) in Q4 Fy 11.
Net Profit
in Q4 FY 12 stands at Rs.252.84 Cr; compared to Rs.332.55 Cr (down -23.97%) in
Q3 FY 12; and Rs.225.90 Cr (Up 11.93%) in Q4 Fy 11. NPT is down considerably
from preceding Qtr,but is marginally up from the corresponding Qtr.
Paid-up Equity
in Q4 FY 12 stands at Rs.664.71 Cr and Face value
of the share is Rs.10.
Capital Adequacy Ratio
in Q4 FY 12 stands at 11.03% ; against 11.25% in Q3 FY 12 & 11.95% in Q4 FY 11. CAR is reasonable.
Basic EPS
stands at Rs.3.37 in Q4 FY 12; against
Rs.5.3 in Q3 FY 12 and Rs.3.48 in Q4 FY 11. EPS is down compared to both
quarters.
% of Gross/Net NPA
in Q4 FY 12 stands at 1.96% ; against 2.04% in
Q3 FY 12; 0.02% in Q4 FY 11.
Return on Assets
in Q4 FY 12 stands at 0.59%; against 0.82% in Q3 FY 12; and 0.62% in Q4 FY 11.
Return on Assets has come down drastically.
ANNUAL RESULTS REVIEW
FY12 vs FY 11 vs FY 10
The annual results of U CO Bank are
reviewed below :
Interest on Advances
in FY 12 stands at Rs.11382.96 Cr; compared to Rs.8505.39 Cr (Up 33.83%) in FY
11; and Rs.7106.85 Cr (Up 60.17%) in FY 10.
Income on Investments in
FY 12 stands at Rs.3156.35 Cr; compared to Rs.2700.13 Cr (Up 16.90%) in FY 11;
and Rs.2188.98 Cr (Up 44.19%) in FY 10.
Interest Earned in FY 12 stands at Rs.14632.37 Cr; compared to
Rs.11370.80 Cr (Up 28.68%) in FY 11; and Rs.9526.32 Cr (Up 53.6%) in FY 10.
Other Income in
FY 12 stands at Rs.965.55 Cr; compared to Rs.925.41 Cr (Up 4.34%) in FY 11; and
Rs.965.93 Cr (down -0.04%) in FY 10.
Total Income
in FY 12 stands at Rs.15597.92 Cr; compared to Rs.12296.21 Cr (Up 26.85%) in FY
11; and Rs.10492.25 Cr (Up 48.66%) in FY 10.
Interest Expended
in FY 12 stands at Rs.10730.27 Cr; compared to Rs.7525.89 Cr (Up 42.58%) in FY
11; and Rs.7202.20 Cr (Up 48.99%) in FY 10.
Net Interest Income
in FY 12 stands at Rs.3902.10 Cr; compared to Rs.3844.91 Cr (Up 1.49%) in FY
11; and Rs.2324.12 Cr (Up 67.9%) in FY 10.
Total Expdr(excl.provisions) in FY 12 stands at Rs.12786.50 Cr; compared to Rs.9601.25
Cr (Up 33.18%) in FY 11; and Rs. 8786.62 Cr (Up 45.52%) in FY 10.
Operating Profit
in FY 12 stands at Rs.281,1.42 Cr;
compared to Rs.269,4.96 Cr (Up 4.32%) in FY 11; and Rs.1705.63 Cr (Up 64.83%) in FY 10.
Provisions
in FY 12 stands at Rs.1661.16 Cr; compared to Rs.1750.40 Cr (down -5.10%) in FY
11; and Rs.656.47 Cr (Up 153.04%) in FY 10.
Profit before tax
in FY 12 stands at Rs.1150.26 Cr; compared to Rs.944.56 Cr (Up 21.78%) in FY
11; and Rs.1049.16 Cr (Up 9.64%) in FY 10.
Tax Expense
in FY 12 stands at Rs.41.59 Cr; compared to Rs.38.02 Cr (Up 9.39%) in FY 11;
and Rs.36.98 Cr (Up 12.47%) in FY 10.
Net Profit
in FY 12 stands at Rs.1108.67 Cr; compared to Rs.906.54 Cr (Up 22.30%) in FY
11; and Rs.1012.18 Cr (Up 9.53%) in FY 10.
Face Value
is Rs.10 and Paid-up
Equity is Rs.664.71 Cr.
Reserves
in FY 12 stands at Rs.5631.60 Cr- against Rs.4591.10 Cr in FY 11 – up 22.66%; and Rs.3062.12 Cr in FY
10 – up 83.91%.
Capital Adequacy Ratio
in FY 12 is 11.03%; against 11.95% in FY 11; and 11.35% on FY 10.
Gross/Net NPA stands at Rs.2263.94 Cr in FY 12; against Rs.1824.55
Cr in FY 11;(Up 24.08%); and Rs.966.28 Cr in FY 10 (Up 134.29%).
% of Gross/Net NPA
in FY 12 is 1.96%; against 1.84% in FY 11; 1.17% in FY 10.
Return on Assets
in FY 12 is 0.69%; against 0.66% in FY 11; and 0.87% in FY 10.
Basic EPS
in FY 12 is Rs.15.02; against Rs.14.29 in FY 11; Rs.18.42 in FY 10.
Current Market price is Rs.71.60 While the 52 week high price is Rs.105; and
the 52 week low price is Rs.44.75.
Based on this, the current PE
ratio works out to 4.77. The results are down because of High NPAs (Low asset
quality) in Q4 and Q3 both. If this comes down to earlier low levels – the Bank’s
performance will take a big boost.
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