Friday, January 25, 2013

ANDHRA BANK - RESULTS - FOR Q2 FY 2012-13 - Q/E DEC,2012. - TOTAL INCOME UP 10%; NET PROFIT DOWN 15%; YoY; NPAS UP 115% YoY




ANDHRA BANK

RESULTS FOR Q2 FY 2012-13
Q/E DEC,2012.

ANDHRA BANK has declared mediocre results for the third quarter ending December, 2012.

Interest on Advances    for Q3 FY 2013 stands at Rs.2611.08 Cr; compared to Rs.2550.90 Cr  in Q2 FY 13 (+2.36%) ; and Rs. 2390.61Cr in Q3 FY 12 (9.22%).

Income on Investments for Q3 FY 2013 stands at Rs.602.99 Cr; compared to Rs.602.27 Cr  in Q2 FY 13 (+0.12%) ; and Rs.498.63 Cr in Q3 FY 12 (+20.93%).

Income on Balances With RBI for Q3 FY 2013 stands at Rs.16.98 Cr; compared to Rs.27.34 Cr  in Q2 FY 13 (-37.89%) ; and Rs.33.76 Cr in Q3 FY 12 (-49.7%).

Interest Earned      for Q3 FY 2013 stands at Rs.3231.05 Cr; compared to Rs.3198.16       Cr  in Q2 FY 13 (+1.03%) ; and Rs.2923.00 Cr in Q3 FY 12 (+10.54%).

Other Income for Q3 FY 2013 stands at Rs.238.16 Cr; compared to Rs.219.46  Cr  in Q2 FY 13 (+8.52%) ; and Rs.235.26 Cr in Q3 FY 12 (+ 1.23%).

Total Income for Q3 FY 2013 stands at Rs.3469.21 Cr; compared to Rs.3417.62 Cr  in Q2 FY 13 (+1.51%) ; and Rs.3158.26 Cr in Q3 FY 12 (+     9.85%).

Interest Expended for Q3 FY 2013 stands at Rs.2259.67Cr; compared to Rs.2304.41Cr  in Q2 FY 13 (-1.94%) ; and Rs.1939.15 Cr in Q3 FY 12 (+16.53%).

Employees Cost     for Q3 FY 2013 stands at Rs.312.06 Cr; compared to Rs.296.95 Cr  in Q2 FY 13 (+5.09%) ; and Rs.284.70 Cr in Q3 FY 12 (+9.61%).

Other Operating Expenses   for Q3 FY 2013 stands at Rs.185.39 Cr; compared to Rs.178.15   Cr  in Q2 FY 13 (+4.06%) ; and Rs. 166.81 Cr in Q3 FY 12 (+11.14%).

Operating Expenses      for Q3 FY 2013 stands at Rs.497.45Cr; compared to Rs.475.10 Cr  in Q2 FY 13 (+4.7%) ; and Rs.451.51 Cr in Q3 FY 12 (+10.17%).

Total Expenditure excluding provisions      for Q3 FY 2013 stands at Rs.2757.12 Cr; compared to Rs.2779.51Cr  in Q2 FY 13 (-0.81%) ; and Rs.2390.66 Cr in Q3 FY 12 (+15.33%).

Operating Profit     for Q3 FY 2013 stands at Rs.712.09 Cr; compared to Rs.638.11 Cr  in Q2 FY 13 (+11.59%) ; and Rs.767.60 Cr in Q3 FY 12 (-7.23%).

Profit before Interest, Dep. & Taxes   for Q3 FY 2013 stands at Rs.712.09 Cr; compared to Rs.638.11 Cr  in Q2 FY 13 (+11.59%) ; and Rs.767.60 Cr in Q3 FY 12 (-7.23%).

Provisions  for Q3 FY 2013 stands at Rs.285.00 Cr; compared to Rs.139.48 Cr  in Q2 FY 13 (+ 104.33%); and Rs.309.43 Cr in Q3 FY 12 (-7.9%).

Profit before tax    for Q3 FY 2013 stands at Rs.427.09Cr; compared to Rs.498.63 Cr  in Q2 FY 13 (-14.35%) ; and Rs.458.17 Cr in Q3 FY 12 (-6.78%).

Tax Expense   for Q3 FY 2013 stands at Rs.170.00 Cr; compared to Rs.173.00 Cr  in Q2 FY 13 (-1.73%) ; and Rs.155.00 Cr in Q3 FY 12 (+9.68%).

Net Profit  for Q3 FY 2013 stands at Rs.257.09 Cr; compared to Rs.325.63 Cr  in Q2 FY 13 (-21.05%) ; and Rs.303.17 Cr in Q3 FY 12 (-15.2%).

Face Value is Rs.10.  Paid-up Equity stands at Rs.559.58 Cr.

Capital Adequacy Ratio for Q3 FY 2013 stands at 11.64%; compared to 12.15 % in Q2 FY 13; and 12.08% in Q3 FY 12.

Basic EPS        for Q3 FY 2013 stands at Rs.4.59; compared to Rs.5.82 in Q2 FY 13; and Rs.5.42 in Q3 FY 12.  
  
Gross/Net NPA      for Q3 FY 2013 stands at Rs.2023.32 Cr; compared to Rs.1830.59 Cr  in Q2 FY 13 (+10.53%) ; and Rs.943.27 Cr in Q3 FY 12 (+114.5%).

% of Net NPA for Q3 FY 2013 stands at 2.29%; compared to 2.16% in Q2 FY 13; and 1.21% in Q3 FY 12.

Return on Assets   for Q3 FY 2013 stands at 0.79%; compared to 1.02% in Q2 FY 13; and 1.07% in Q3 FY 12.

Public Shareholding stands at 42%

CURRENT MARKET PRICE :    Rs.109.70  

52 week high/low price : 138.45/87.60

Performance Highlights
for the Q3 FY 2012-13 and 9M
FY 2012-13 ended December 2012

TOTAL BUSINESS :

• Total Business of the Bank stood at Rs 2,02,740 Crore, recording a Y-o-Y
growth of 14.0% over Rs 1,77,850 Crore at the end of Dec’11. 

• Deposits at the end of Dec’12 stood at Rs 1,12,448 Crore as compared to
Rs 98,680 Crore at the end of Dec’11, registering a Y-o-Y growth of 14.0%. 

• Advances recorded a Y-o-Y growth of 14.0% to reach Rs 90,29 2 Crore at the  end of Dec’12 against Rs 79,169 Crore at the end of Dec’11. 

• CASA Deposits increased to Rs 29,265 Crore at the end of Dec’12 from
Rs 26,261 Crore at the end of Dec’11, recording a Y-o-Y growth of 11.4%. 

• CASA share in Total Deposits at the end of Dec’12 stood at 26.0%.

INCOME

Total Income during 9M FY’12-13 increased to Rs 10,244 Crore, recording a Y-o-Y growth of 14.2%.
·       Total Business crossed the Rs 2,00,000 Crore Mark registering a Y-o-Y Growth of 14.0%  
Other Income during 9M FY’12-13 increased to Rs 693 Crore, recording a Y-o-Y growth of 10% over 9M FY’11-12.

PROFIT

Operating Profit for 9M FY’12-13 stood at Rs 2,054 Crore as against Rs 2,154 Crore during 9M FY’11-12. 

Net Profit for 9M FY’12-13 stood at Rs 945 Crore as against Rs 1,005 Crore for 9M FY’11-12.

IMPORTANT RATIOS

Gross NPA ratio stood at 3.66% while Net NPA ratio stood at 2.29% for  Dec’12 respectively. 

Net Interest Margin (NIM) stood at 3.35% for Q3 FY’12-13 and 3.27% for 9M FY’12-13. 

Return on Assets stood at 0.79% for Q3 FY’12-13 and 0.99% for 9M of FY’12-13. 

Cost of Deposits stood at 7.77% for Q3 FY’12-13 and 7.84% for 9M FY ’12- 13 respectively. 

Yield on Advances stood at 12.05% for Q3 FY12’13 and 12.06% for 9M  FY’12-13. 

Cost to Income ratio stood at 41.13% for Q3 FY’12-13 and 41.28% for 9M FY’12-13. 

Earnings Per Share was at Rs 16.88 for the 9 month period ended Dec’12. 

Book Value per Share improved to Rs 145.16 in Dec’12 from Rs 126.02 in Dec’11. 

CRAR of the Bank stood at 11.86% under BASEL-II (Tier-I Capital: 8.06%;  Tier-II Capital: 3.80%).

ASSET QUALITY

Gross NPAs of the Bank stood at Rs 3301.96 Crore and the Gross NPAs to Gross Advances Ratio stood at 3.66% for the period ended Dec’12. 

·       Net NPAs  stood at Rs 2023.32 Crore and the Net NPAs to Net Advances Ratio stood at 2.29% for Dec’12.

DELIVERY CHANNELS

• During the Current FY, the Bank has opened 104 Branches and added 116 ATMs taking the PAN India presence to 3,040 Delivery Channels consisting of 1,816 Branches, 15 Extension Counters, 37 Satellite Offices and 1,172 ATMs.

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