DENA BANK
RESULTS FOR FIRST QUARTER
Q1 FY 2013
DENA BANK , a public
sector Bank with 44.76% Public Holding, has produced good Results in the first
quarter ending June 2012.
HIGH LIGHTS
Total Income for Q1 FY 13 stands at Rs.2278.85 Cr; up by 5.19%
from Rs.2166.36 Cr in Q4 FY 12(Previous Qtr); and up by 37.9
% from Rs.1652.53 Cr in Q1 FY 12 (Corresponding Qtr).
Total Expenditure for Q1 FY 13 stands at Rs.1820.93 Cr; up by 7.69% from Rs.1690.85 Cr in Q4 FY
12(Previous Qtr); and up by 35.41% from
Rs.1344.79 Cr in Q1 FY 12 .
Profit before
Interest, Dep. & Taxes
for
Q1 FY 13 stands at Rs.457.92 Cr; down by -3.7%
from Rs.475.51 Cr in Q4 FY 12(Previous Qtr); and up by 48.8%
from Rs.307.74 Cr in Q1 FY 12.
Net Profit for Q1 FY 13 stands at Rs.238.63 Cr; down by -6.34% from Rs.254.79 Cr in Q4
FY 12(Previous Qtr); and up by 41.97% from Rs.168.09 Cr in Q1 FY
12 .
Diluted EPS for Q1 FY 13 stands at Rs.6.82 ; down by -10.62%
from Rs.7.63 in Q4 FY 12(Previous Qtr); and up by
35.32% from Rs.5.04
in Q1 FY 12 .
DETAILS
Interest on Advances for Q1 FY 13 stands at Rs.1650.58 Cr; up by 12.64%
from Rs.1465.39 Cr in Q4 FY 12(Previous
Qtr); and up by 40.22% from Rs.1177.14 Cr in Q1 FY 12 (Corresponding
Qtr).
Income on
Investments for
Q1 FY 13 stands at Rs.449.35 Cr; up by 5.29%
from Rs.426.79 Cr in Q4 FY 12(Previous Qtr); and up by 29.8% from Rs.346.18 Cr in Q1 FY 12 .
Income on Balances
With RBI
for Q1 FY 13 stands at Rs.10.29 Cr; down by -21.93% from Rs.13.18 Cr in Q4 FY
12(Previous Qtr); and up by 111.73% from Rs.4.86 Cr in Q1 FY 12 .
Interest Earned for Q1 FY 13 stands at Rs.2137.20 Cr;
up by 9.27% from Rs.1955.89 Cr in Q4 FY 12(Previous Qtr); and up by 39.85% from Rs. 1528.18 Cr in Q1 FY12.
Other Income for Q1 FY 13 stands at Rs. 141.65 Cr; down by -32.7% from Rs.210.47 Cr in Q4 FY 12(Previous Qtr); and up by 13.91%
from Rs.124.35 Cr in Q1 FY 12 .
Total Income for Q1 FY 13 stands at Rs.2278.85
Cr; up by 5.19% from Rs.2166.36 Cr in Q4 FY 12(Previous Qtr); and up by 37.9% from Rs.1652.53 Cr in Q1 FY 12 .
Interest Expended for Q1 FY 13 stands at Rs.1524.96 Cr; up by 12.33% from Rs.1357.52 Cr in Q4 FY
12(Previous Qtr); and up by 40.99% from
Rs.1081.63 Cr in Q1 FY 12 .
Net Interest Income for Q1 FY 13 stands at Rs.612.24 Cr; up by 2.32% from Rs.598.37 Cr in Q4 FY
12(Previous Qtr); and up by 37.1% from Rs.446.55 Cr in Q1 FY
12.
Employees Cost for Q1 FY 13 stands at Rs.172.17 Cr;
up by -19.21% from Rs.213.10
Cr in Q4 FY 12(Previous Qtr); and up by 2.42%
from Rs.168.11 Cr in Q1 FY 12.
Other Operating
Expenses
for
Q1 FY 13 stands at Rs.123.80 Cr; up by 2.97%
from Rs.120.23 Cr in Q4 FY 12(Previous Qtr); and up by 30.25% from Rs.95.05 Cr in Q1 FY 12.
Operating Expenses for Q1 FY 13 stands at Rs.295.97 Cr; down by -11.21%
from Rs.333.33 Cr in Q4 FY 12(Previous Qtr); and up by 12.47%
from Rs.263.16 Cr in Q1 FY 12 .
Total Expenditure(Excl.Provisions) for Q1 FY 13 stands at Rs.1820.93 Cr; up by 7.69% from Rs.1690.85 Cr in Q4 FY
12(Previous Qtr); and up by 35.41% from Rs.1344.79 Cr in Q1 FY 12 .
Operating Profit for Q1 FY 13 stands at Rs.457.92 Cr; down by -3.7% from Rs.475.51 Cr in Q4 FY
12(Previous Qtr); and up by 48.8% from Rs.307.74 Cr in Q1 FY
12.
Provisions for Q1 FY 13 stands at Rs.103.41 Cr; down by -64.48% from Rs.291.11 Cr in Q4 FY
12(Previous Qtr); and up by 57.9% from
Rs.65.49 Cr in Q1 FY 12.
Profit before tax for Q1 FY 13 stands at Rs.354.51 Cr; up by 92.25% from Rs.184.40 Cr in Q4 FY
12(Previous Qtr); and up by 46.34% from
Rs.242.25 Cr in Q1 FY 12 .
Tax Expense for Q1 FY 13 stands at Rs.115.88 Cr; down by -264.63%
from Rs.-70.39 Cr in Q4 FY 12(Previous Qtr); and up by 56.26%
from Rs.74.16 Cr in Q1 FY 12 .
Net Profit for Q1 FY 13 stands at Rs.238.63 Cr; down by -6.34% from Rs.254.79 Cr in Q4 FY 12(Previous Qtr);
and up by 41.97%
from
Rs.168.09 Cr in Q1 FY 12 .
Face Value of Share isRs.10; and
Paid-up Equity
stands
at Rs.350.06 Cr.
Capital Adequacy
Ratio (Basel II): for Q1 FY 13 stands at 12.35 % in Q1 FY
13; at 11.51% in Q4 FY 12; and at 13.14%
in Q1 FY 12.
Basic EPS stands at Rs.6.82 in Q1 FY 13; at Rs.7.63 in
Q4 FY 12; and Rs.5.04 in Q1 FY 12.
Net NPAs for Q1 FY 13 stands at Rs.597.04 Cr; up by 4.43%
from Rs.571.73 Cr in Q4 FY 12(Previous Qtr); and up by
30.29% from Rs.458.24 Cr in Q1 FY 12 (Corresponding Qtr).
% of Net NPAS to Net Advances stands at 1.01% in Q1 FY 13; at 1.01% in Q4
FY 12; and at 1.08% in Q1 FY 12.
Return on Assets stands at 1.07% in Q1 FY 13; at 1.17% from Q4 FY 12; and at 0.97%
in Q1 FY 12.
Provision Coverage
Ratio is 75.62% as
on 30.06.2012.
OTHER DETAILS
The
good numbers are a result of an overall performance improvement, including
growth in advances, widening of margins and profit from sale of securities –
Says the CMD, Noopur Mitra.
Dena
Bank's N I M was up 0.16 % over Q1 FY 12 at 3.06 % - in spite of a 4 % point
dip in the share of the low-cost current and saving account deposits, which
stood at a little over 30 percent in Q1 FY 13, in the wake of bank's shift to
term deposits.
Acting on a finance ministry diktat of reducing
reliance on bulk deposits, the bank has embarked on a three- quarter, Rs
9,000-crore shedding drive which will take the component down to 10 percent
from the present 13.5 percent, Mitra said. It is seen that all PSU Banks are
attempting the same. The share of Bulk Deposits come down as the CASA DEPOSITS
SHARE grows.
The bank restructured Rs 800 crore of its
assets during the quarter, which included two power distribution companies with
Rs 700 crore. But, Mitra stressed that there are no chunky restructurings in
the pipeline which will erode profits. The bank's total provisions nearly
doubled to Rs 103.41 crore as against Rs 65.49 crore in the corresponding
period last year.Going forward, Asset quality is not a major concern, as the Bank has restructured all accounts necessary - feels the bank. Also, It feels confident of maintaining a NIM of 3% in the rest of the Year. It expects to achieve a Loan growth of 20% and a deposit Growth of 18%.
Overall – DENA BANK has performed well in
Q1 FY 13 – even in controlling the NPAs – which has affected many other PSU
Banks. The CMD’s views that there are no big restructuring of loans for the
future pipe line – is re-assuring.
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