IDBI BANK - FIRST QUARTER RESULTS - Q1 FY 2012-13 - TOTAL INCOME UP 12%YoY; NPT UP 28% YoY; NPAs RISING;

IDBI BANK

FIRST QUARTER RESULTS

Q1 FY 2012-13

IDBI BANK has released its results for the first quarter ending June, 2012.

HIGH LIGHTS

Total Income for Q1 FY 13 stands at Rs.6786.81 Cr; down by -1.02% from Q4 FY 12 (Rs.6856.42 Cr); and up by 12% from Q1 FY 12 (Rs.6059.83 Cr).Total Income has stagnated over last Quarter, though increased by 12% over corresponding Qt of last year.

Total Expenditure     for Q1 FY 13 stands at Rs.5657.76 Cr; down by -0.07% from Q4 FY 12 (Rs.5661.85 Cr); and up by  12.5% from Q1 FY 12 (Rs.5029.03 Cr).

Profit before Interest, Dep. & Taxes for Q1 FY 13 stands at Rs.1129.05 Cr; down by -5.48% from Q4 FY 12 (Rs.1194.57 Cr); and up by    9.53% from Q1 FY 12 (Rs.1030.80 Cr).

Net Profit   for Q1 FY 13 stands at Rs.427.34 Cr; down by -44.56% from Q4 FY 12 (Rs.770.78 Cr); and up by 27.53% from Q1 FY 12 (Rs.335.10 Cr).NPT has decreased by 45% sequentially. But has gone up by 28% YoY.

Diluted EPS for Q1 FY 13 stands at Rs.3.34; while the same was Rs.7.75 for Q4 FY 12; and Rs.3.4 for Q1 FY 12.EPS is sharply down sequentially; but is at same level YoY – because of increase of Equity YoY by 30%.

DETAILS

Interest on Advances for Q1 FY 13 stands at Rs.4926.21 Cr; up by 4.82% from Q4 FY 12 (Rs.4699.55 Cr); and up by 14.57% from Q1 FY 12 (Rs. 4299.90 Cr).

Income on Investments    for Q1 FY 13 stands at Rs.1326.98 Cr; down by       -0.07% from Q4 FY 12 (Rs.1327.89 Cr); and up by 3.54% from Q1 FY 12 (Rs.1281.59 Cr).

Interest Earned  for Q1 FY 13 stands at Rs.6269.81 Cr; up by    3.13%  from Q4 FY 12 (Rs.6079.47 Cr); and up by 11.39 % from Q1 FY 12 (Rs.5628.93 Cr).

Other Income   for Q1 FY 13 stands at Rs.517.00 Cr; down by -33.46% from Q4 FY 12 (Rs.776.95 Cr); and up by    19.98% from Q1 FY 12 (Rs.430.90 Cr).

Total Income    for Q1 FY 13 stands at Rs.6786.81 Cr; down by -1.02% from Q4 FY 12 (Rs.6856.42 Cr); and up by 12% from Q1 FY 12 (Rs.6059.83 Cr).

Interest Expended  for Q1 FY 13 stands at Rs.4999.20 Cr; up by 2.68% from Q4 FY 12 (Rs.4868.55 Cr); and up by 11.68% from Q1 FY 12 (Rs.4476.49 Cr).

Net Interest Income for Q1 FY 13 stands at Rs.1270.61 Cr; up by 4.93% from Q4 FY 12 (Rs.1210.92 Cr); and up by 10.25% from Q1 FY 12 (Rs.1152.44 Cr).NII increase is reasonable but not impressive.

Total Expenditure(Excl.provisions)   for Q1 FY 13 stands at Rs.5657.76 Cr; down by -0.07% from Q4 FY 12 (Rs.5661.85 Cr); and up by 12.5% from Q1 FY 12 (Rs.5029.03 Cr).

Operating Profit        for Q1 FY 13 stands at Rs.1129.05 Cr; down by -5.48% from Q4 FY 12 (Rs.1194.57 Cr); and up by      9.53% from Q1 FY 12 (Rs.1030.80 Cr). OPT is sequentially down but up YoY – but not very impressively.

Provisions        for Q1 FY 13 stands at Rs.506.82   Cr; up by 85.11% from Q4 FY 12 (Rs.273.79 Cr); and up by 19.06% from Q1 FY 12 (Rs.425.70 Cr). Provisions are Huge both sequentially and YoY.

Profit before tax       for Q1 FY 13 stands at Rs.622.23   Cr; down by -32.42% from Q4 FY 12 (Rs.920.78 Cr); and up by 2.83% from Q1 FY 12 (Rs.605.10 Cr). PBT growth is not quite appealing.

Tax Expense     for Q1 FY 13 stands at Rs.194.89 Cr; up by 29.93% from Q4 FY 12 (Rs.150.00 Cr); and down by   -27.82% from Q1 FY 12 (Rs.270.00 Cr). The lower tax expense has helped NPT growth to some extent.

Net Profit for Q1 FY 13 stands at Rs.427.34 Cr; down by -44.56% from Q4 FY 12 (Rs.770.78 Cr); and up by    27.53% from Q1 FY 12 (Rs.335.10 Cr). The improvement in NPT is largely due to LESS TAX EXPENSE.

Face Value of Share (in Rs ) : 10; Paid-up Equity : Rs.1278.41 Cr in Q1 FY 13 , an increase of  29.84 from Rs.984.61 Cr in Q1 FY 12.

Capital Adequacy Ratio     for Q1 FY 13 stands at 14.36%; while the same was 14.58% for Q4 FY 12; and 13.83% fro Q1 FY 12.

Diluted EPS for Q1 FY 13 stands at Rs.3.34; while the same was  Rs.7.75 for Q4 FY 12; and Rs.3.4 for Q1 FY 12.

Gross/Net NPA for Q1 FY 13 stands at Rs.3477.77 Cr; up by   19.47% from Q4 FY 12 (Rs.2910.93Cr); up by 79.93% from Q1 FY 12 (Rs.1932.80 Cr).Increase in NPAs is very High.

 % of Net NPA for Q1 FY 13 stands at 2.07%; while the same was 1.61% for Q4 FY 12; and 1.25% for Q1 FY 12.

 % of gross NPAs Stands at 3.24%;2.49% and  2.10% for the above periods

Return on Assets for Q1 FY 13 stands at  0.63% ; while the same for Q4 FY 12 was 1.17% and 0.54% for Q1 FY 12.

Public Shareholding  in IDBI Bank stands at 29.48%.

52  Week high/low price : 132.00/77.10;

CURRENT PRICE :Rs.88.15.

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