BANK
OF INDIA
RESULTS FOR THE FIRST QUARTER
Q1 FY 2013
Bank
of India has declared its Results for the First Quarter ending June 2012.
HIGH LIGHTS
Total Income
for Q1 FY 13 stands at Rs.8550.03 Cr; down by -2.59% from Q4 FY 12 amount of Rs.8777.73 Cr;
and up
by 17.23% from the Q1
FY 12 amount of Rs.7293.68 Cr.
Total Expenditure for Q1 FY 13 stands at Rs.6876.47 Cr; UP
by 1.68% from Q4 FY 12 amount of Rs.6763.13 Cr; and up by 16.6% from the Q1 FY
12 amount of Rs.5897.74 Cr.
Profit before
Interest, Dep. & Taxes for Q1 FY 13 stands at Rs.1673.56 Cr; down by -16.93%
from Q4 FY 12 amount of Rs.2014.60 Cr; and up by 19.89% from the Q1 FY 12
amount of Rs.1395.94 Cr.
Net Profit
for Q1 FY 13 stands at Rs.887.45
Cr; down by -6.85% from Q4 FY 12 amount of Rs. 952.73 Cr; and up by 71.48%
from the Q1 FY 12 amount of
Rs.517.53 Cr.
Diluted EPS for
Q1 FY 13 stands at Rs.15.47; While the same for Q4 FY 12 is
Rs.17.41 for Q4 FY 12; and Rs.9.47 in Q1 FY 12.
DETAILS
Interest on
Advances for Q1 FY 13
stands at Rs.5541.20 Cr; down by -0.82%
from Q4 FY 12 amount of Rs.5586.90 Cr; and up by 20.57% from the Q1 FY 12 amount of Rs.4595.91 Cr.
Income on
Investments for Q1 FY 13
stands at Rs.1896.21 Cr; UP by 4.38%
from Q4 FY 12 amount of Rs.1816.57 Cr; and up by 15.58% from the Q1 FY 12
amount of Rs.1640.67 Cr.
Income on Balances
With RBI for Q1 FY 13
stands at Rs.271.74 Cr; down by -8.9% from Q4 FY 12 amount of Rs.298.30 Cr;
and up by 23.46% from the Q1 FY 12
amount of Rs.220.10 Cr.
Interest Earned
for Q1 FY 13 stands at Rs. 7709.17
Cr; down by -1.3% from Q4 FY 12
amount of Rs. 7810.62 Cr; and up by 16.21%
from the Q1 FY 12 amount of Rs.6633.57 Cr.
Other Income for Q1 FY
13 stands at Rs.840.86 Cr; down by -13.05%
from Q4 FY 12 amount of Rs.967.11 Cr; and up by 27.38% from the Q1 FY 12 amount of Rs.660.11 Cr.
Total Income for Q1 FY 13 stands at Rs.8550.03 Cr;
down by -2.59% from Q4 FY 12 amount of
Rs.8777.73 Cr; and up by 17.23% from the Q1 FY 12 amount of Rs.7293.68 Cr.
Interest Expended for Q1 FY 13 stands at Rs.5665.62 Cr; up
by 6.71% from Q4 FY 12 amount of Rs.5309.59 Cr; and up by 18.22% from the Q1 FY 12 amount of Rs.4792.61 Cr.
Net Interest Income for Q1 FY 13 stands at Rs.2043.55 Cr; down
by -18.29% from Q4 FY 12 amount of Rs.2501.03
Cr; and up by 11.01% from the
Q1 FY 12 amount of Rs.1840.96 Cr. Net
Interest Margin increased from 2.19% to 2.27 % (YoY) .
Total
Expenditure(Excl.provisions) for
Q1 FY 13 stands at Rs.6876.47 Cr; up by
1.68% from Q4 FY 12 amount of Rs.6763.13 Cr; and up by 16.6% from the Q1 FY
12 amount of Rs.5897.74 Cr.
Operating Profit
for Q1 FY 13 stands at Rs.1673.56 Cr; down by -16.93% from Q4 FY 12 amount of Rs.2014.60 Cr;
and up by 19.89% from the Q1 FY
12 amount of Rs.1395.94 Cr.
Provisions for Q1 FY 13 stands at Rs.472.23 Cr;
down by -32.71% from Q4 FY 12 amount
of Rs.701.78 Cr; and down by -16.75%
from the Q1 FY 12 amount of Rs.567.22 Cr.
Profit before tax for Q1 FY 13
stands at Rs.1201.33 Cr; down by -8.49%
from Q4 FY 12 amount of Rs.1312.82 Cr; and up by 44.96% from the Q1 FY 12
amount of Rs.828.72 Cr.
Tax Expense for Q1 FY 13 stands at Rs.313.88 Cr;
down by -12.83% from Q4 FY 12 amount
of Rs.360.09 Cr; and up by 0.86%
from the Q1 FY 12 amount of Rs.311.19 Cr.
Net Profit After
Tax for
Q1 FY 13 stands at Rs.887.45 Cr; down by -6.85%
from Q4 FY 12 amount of Rs.952.73 Cr; and up by 71.48%
from the Q1 FY 12 amount of Rs.517.53 Cr.
Face Value of Share
is Rs.10; and Paid-up Equity stands at Rs.574.25 Cr.
Capital Adequacy
Ratio for Q1 FY 13
stands at 11.2%; while the same is 11.57%
for Q4 FY 12; and 11.29% for Q1 FY 12.
Diluted EPS
for Q1 FY 13 stands at Rs.15.47; while the same stands at 17.41%
for Q4 FY 12; and Rs.9.47 for Q1 FY 12.
Gross/Net NPA
for Q1 FY 13 stands at Rs.4413.44 Cr; up by 20.7% from Q4 FY 12 amount of Rs.3656.42 Cr; and up by 64.09% from the Q1 FY 12 amount of Rs.2689.71
Cr.
% of Net NPA for Q1 FY 13
stands at 1.69%; while the same is 1.47% for Q4 FY 12; and 1.27% for Q1 FY 12.
But - Gross NPA ratio decreased from
2.69% to 2.55 % (YoY) .
Provision Coverage
Ratio stands at
60.86% against 66.76% in q1 FY 12.
Return on Assets
for Q1 FY 13 stands at 0.86%; while the same is 0.98% for Q4 FY
12; and 0.59% for Q1 FY 12.
Book Value Per
share in last 5
Qtrs was Rs.292.90 in Q1 FY 12; Rs.301.87 in Q2 FY 12; Rs.314.96 in Q3 FY 12;
Rs.326.52 in Q4 FY 12; and Rs.341.97 in Q1 FY 12.
ROE
improved from 13.13% to
18.49 % (YoY)
Public Shareholding
(%) in BOI is 37.28%;
52 week high/low
price : Rs.418.00/Rs.261.00
Current Market
Price –Rs.288; At
current Qtrly EPS of Rs.15.47, annualized EPSW may be around Rs.62. The PE
Ratio is 4.65. While the Income and Net Profit have grown well, the NPAs are
yet to come down. The Provision coverage ratio is LOW compared to other Banks.
CAR is moderate. The Bank may need additional funds for any significant Growth.
That, of course, will not be much of a problem for BOI, to raise from the
market.
Business Performance
Advances
at Rs. 2,641,616 Mn (YoY Growth 22.83 %)
from Rs.2149,355 Mn in Q1 FY 12.
Deposits
stood at Rs.3,389,826 Mn (YoY Growth
15.66 %) from 2930,984 Mn in Q1 FY 12.
Business
Mix stood at Rs.6031,442 Mn – up from Rs.5080,339 Mn.
CASA
at 32.04 % -Compared to 30.48% in Q1 FY 12; and 34.25% in Q4 FY 12.
Business
touched Rs. 6,031,442Mn ( YoY Growth
18.72%)
MAJOR
BUSINESS PARAMETERS
From Q1 FY12; Q2; Q3; Q4 and Q1 FY 13
Gross NPA % : 2.69 : 3.02 : 2.74
: 2.34 : 2.56
Net NPA % :
1.27 : 1.98 : 1.78 :
1.47 : 1.69
Provision
Coverage Ratio % : 66.76 : 59.13 : 60.87 :
64.18 : 60.86
Cost
to Income Ratio : 44.19
: 43.49 : 40.68
: 41.91 : 41.98
Return
on Assets 0.58 0.54 0.76 0.98 0.86
Return
on Equity 13.13 12.07 16.97 21.17 18.49
Earnings
Per Share( Rs) : 9.47 : 8.99 : 13.10 : 17.41 : 15.47
CRAR
- Tier I (%) 8.02 8.26 7.65 8.59 8.29
CRAR
- Tier II (%) 3.55 3.71 3.53
3.36 3.13
CRAR
(%) :
11.57 : 11.97 :
11.18 : 11.95 : 11.42
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