THE SOUTH INDIAN BANK LTD
FIRST QUARTER OF FY2012-13
Q/E 30th, JUNE,2012
Total
Income for Q1 FY 13 stands at Rs.1144.41 Cr – up by
6.32% from Q4 FY 12 (Rs.1076.36 cr; ) and up by
39.5% from Q1 FY 12 (Rs.820.35 Cr).
Total
Expenditure for Q1 FY 13 stands at Rs.936.92 Cr – up by 2.58% from Q4 FY 12 (Rs.913.33 cr; ) and up
by 38.35% from Q1 FY 12 (Rs.677.21 Cr).
The increase in expenditure is less than proportionate to the increase in Income – indicating improvement
of margins for the Bank.
Operating
Profit for Q1 FY 13 stands at Rs.207.49 Cr – up by 27.27%
from Q4 FY 12 (Rs.163.03 cr; ) and up by
44.96% from Q1 FY 12 (Rs.143.14 Cr).
Profit
before tax for Q1 FY 13 stands at Rs.182.10 Cr – up by 20.84%
from Q4 FY 12 (Rs.150.70 cr; ) and up by 48.9% from Q1 FY 12 (Rs.122.30 Cr).
Net
Profit for Q1 FY 13 stands at
Rs.123.04 Cr – up by 0.89% from Q4 FY
12 (Rs.121.95 cr; ) and up by 49.16% from Q1 FY 12 (Rs.82.49 Cr). The YoY
improvement at 49.16% is a good achievement by the Bank.
Interest
on Advances for Q1 FY 13 stands at
Rs.857.98 Cr – up by 6.81% from Q4 FY 12
(Rs.803.27 cr; ) and up by 40.66% from Q1 FY 12 (Rs.609.98 Cr).
Income on
Investments for Q1 FY 13 stands at Rs.181.40 Cr – up by 10.35% from Q4 FY 12 (Rs.164.39 cr; ) and
up by 25.94%
from Q1 FY 12 (Rs.144.04 Cr).
Income on
Balances With RBI for Q1 FY 13 stands at Rs.30.05 Cr – up by 14.69% from Q4 FY 12 (Rs.26.20 cr; ) and up
by 104.42%
from Q1 FY 12 (Rs.14.70 Cr).
Interest
Earned for Q1 FY 13 stands at Rs.1069.43 Cr – up by 7.6%
from Q4 FY 12 (Rs.993.86 cr; ) and up by
39.12% from Q1 FY 12 (Rs.768.72 Cr).
Other
Income for Q1 FY 13 stands at Rs.74.98 Cr – down by -9.12%
from Q4 FY 12 (Rs.82.50 cr; ) and up by 45.23% from Q1 FY 12 (Rs.51.63 Cr).
Interest
Expended for Q1 FY 13 stands at Rs.772.65 Cr – up by 8.93% from Q4 FY 12 (Rs.709.30 cr; ) and up
by 37.06% from Q1 FY 12 (Rs.563.75 Cr).
Net
Interest Income for Q1 FY 13
stands at Rs.296.78 Cr – up by 4.29% from
Q4 FY 12 (Rs.284.56 cr; ) and up by 44.79% from Q1 FY 12 (Rs.204.97 Cr).
Net
Interest Margin increased
from2.77% in Q1 FY2012 yo3.15% in Q1 FY2013. The improvement in NIM is quite
impressive. It is to be seen if the Bank will keep up / improve on this Margin
in future.
Provisions for Q1 FY 13 stands at Rs.25.39 Cr – up by 105.92% from Q4 FY 12 (Rs.12.33 cr; ) and
up by 21.83% from Q1 FY 12 (Rs.20.84 Cr).
Tax
Expense for Q1 FY 13 stands at
Rs.59.06 Cr – up by 105.43% from Q4 FY 12 (Rs.28.75 48.35% from Q1 FY 12 (Rs.39.81 Cr).
F.V of
Share is Rs.1 and Paid-up Equity stands at Rs.113.50
Cr.
Capital
Adequacy Ratio for Q1 FY 13 stands at 13.16 – compared to 11.64
in previous Qtr and 12.36 in
corresponding qtr. The CAR is good enough to support expanded operations in Q2.
Basic EPS stands at Rs.1.08 – against R.1.08 in previous qtr and
Rs.0.73 in corresponding Qtr of previous year.
Gross/Net
NPA for Q1 FY 13 stands at
Rs.95.15 Cr – up by 24.36% from Q4 FY 12 (Rs.76.51 cr; ) and up by 49.87%
from Q1 FY 12 (Rs.63.49 Cr).NPAs have increased considerably and this is a
point of concern for the Bank.
% of
Gross/Net NPA for Q1 FY 13 stands
at 0.35 against 0.28 in previous qtr and 0.29 in
corresponding qtr. While the ratio has increased, yet it is within reasonable
limits.
Return on
Assets stands around 1.27
Public
Shareholding in the Bank is 100%.
The Bank has recommended a Dividend of Rs.0.60 per
share (of Rs.1) against Rs.0.50 last year.
Total
Business of the Bank has increased
to Rs.64,502 cr – a growth of 20% YoY.
Deposits increased to Rs.37153 Cr- a growth of 17.5%.
CASA
Deposits increased to Rs.7835 cr –
a growth of 15.4%
Advances increased to Rs.27,349 Cr – an increase of 23.5%.
Comments
:Over all, South Indian Bank has turned in an impressive growth YoY – in line
with its stated Growth strategy.
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