DENA BANK - RESULTS - FOR Q3 FY 13 - Q/E DEC 2012 - TOTAL INCOME UP 33% YoY - NPT UP 11% YoY

DENA BANK 

RESULTS FOR Q3 FY 2012-13

Q/E DEC,2012

DENA BANK  has declared its results for the third quarter ending Dec,2012.

Total Income    for Q3 FY 13 stands at Rs.2408.42 Cr; compared to Rs.2327.84 Cr in Q2 FY 13 (+3.46%); and Rs.1810.21 Cr in Q3 FY 12 (+33.05%). The Growth in Total Income is quite impressive at 33% YoY.

Total Expenditure      for Q3 FY 13 stands at Rs.1965.34 Cr; compared to Rs.1890.73 Cr in Q2 FY 13 (+3.95%); and Rs.  1417.04 Cr in Q3 FY 12 (+ 38.69%). Growth in expenditure is more than proportionate compared to total income.

Profit before Interest, Dep. & Taxes for Q3 FY 13 stands at Rs.443.08 Cr; compared to Rs.437.11 Cr in Q2 FY 13 (+1.37%); and Rs.393.17 Cr in Q3 FY 12 (+12.69%).

Interest on Advances for Q3 FY 13 stands at Rs.1742.12 Cr; compared to Rs.1689.58 Cr in Q2 FY 13 (+3.11%); and Rs.1292.77 Cr in Q3 FY 12 (+34.76%).

Income on Investments  for Q3 FY 13 stands at Rs.518.83 Cr; compared to Rs.494.77 Cr in Q2 FY 13 (+4.86%); and Rs.374.83 Cr in Q3 FY 12 (+38.42%).

Interest Earned  for Q3 FY 13 stands at Rs.2263.96 Cr; compared to Rs.2193.97 Cr in Q2 FY 13 (+3.19%); and Rs.1676.24 Cr in Q3 FY 12 (+35.06%).

Net Interest Margin stands at 3.17% for FY 2012; 3.33% for q/e Dec,11;2.88% for Q/E Dec,12.

Other Income   for Q3 FY 13 stands at Rs.144.46 Cr; compared to Rs.133.87 Cr in Q2 FY 13 (+ 7.91%); and Rs.133.97 Cr in Q3 FY 12 (+7.83%).

Interest Expended    for Q3 FY 13 stands at Rs.1649.06 Cr; compared to Rs.1599.96 Cr in Q2 FY 13 (+3.07%); and Rs.1135.04 Cr in Q3 FY 12 (+45.29%).

Employees Cost  for Q3 FY 13 stands at Rs.192.22 Cr; compared to Rs.179.02 Cr in Q2 FY 13 (+7.37%); and Rs.170.84 Cr in Q3 FY 12 (+12.51%).

Other Operating Expenses for Q3 FY 13 stands at Rs.124.06 Cr; compared to Rs.111.75 Cr in Q2 FY 13 (+11.02%); and Rs. 111.16 Cr in Q3 FY 12 (+11.6%).

Operating Expenses for Q3 FY 13 stands at Rs.316.28 Cr; compared to Rs.290.77 Cr in Q2 FY 13 (+8.77%); and Rs.282.00 Cr in Q3 FY 12 (+12.16%).

Total Expdr excluding provisions  for Q3 FY 13 stands at Rs.1965.34 Cr; compared to Rs.1890.73 Cr in Q2 FY 13 (+3.95%); and Rs.1417.04 Cr in Q3 FY 12 (+38.69%).

Operating Profit  for Q3 FY 13 stands at Rs.443.08 Cr; compared to Rs.437.11 Cr in Q2 FY 13 (+1.37%); and Rs.393.17 Cr in Q3 FY 12 (+12.69%).

Provisions for Q3 FY 13 stands at Rs.156.59 Cr; compared to Rs.104.50 Cr in Q2 FY 13 (+ 49.85%); and Rs.124.33 Cr in Q3 FY 12 (+25.95%).

Profit before tax   for Q3 FY 13 stands at Rs.286.49 Cr; compared to Rs.332.61 Cr in Q2 FY 13 (-13.87%); and Rs.268.84 Cr in Q3 FY 12 (+ 6.57%).

Provision coverage Ratio stands at 75.53% for FY 12; 76.56% for q/e dec,11; and 70.57% for q/e Dec,12.

Tax Expense      for Q3 FY 13 stands at Rs.80.05 Cr; compared to Rs. 92.97 Cr in Q2 FY 13 (-13.9%); and Rs.82.16 Cr in Q3 FY 12(-2.57%).

Net Profit  for Q3 FY 13 stands at Rs.206.44 Cr; compared to Rs.239.64 Cr in Q2 FY 13 (-13.85%); and Rs.186.68 Cr in Q3 FY 12 (+10.58%).

Face Value of Share is Rs.10; Paid-up Equity stands at Rs.350.06 Cr.  

Capital Adequacy Ratio stands at  11.51% for Q3 FY 13; 12.05% for Q2 FY 13; and 11.58% for Q3 FY 12. Tier I stands at 8.86% and Tier II stands at 2.65%.

Basic EPS stands at Rs.5.9 for Q3 FY 13; Rs.6.84 for Q2 FY 13; and Rs.5.6 for Q3 FY 12. For 9 m/e dec,12 EPS is Rs.19.56 against Rs.16.45 in 9 m/e dec,11.

Gross/Net NPA for Q3 FY 13 stands at Rs.816.93  Cr; compared to Rs.720.56 Cr in Q2 FY 13 (+13.37%); and Rs.523.97 Cr in Q3 FY 12 (+55.91%).

% of Gross/Net NPA   for Q3 FY 13 stands at 1.31%;compared to 1.22% for Q2 FY 13; and 1.1% for Q3 FY 12.

Return on Assets       stands at 0.87% in Q3 FY 13; compared to  1.01% for Q2 FY 13; 1.05% for Q3 FY 12.

Public Shareholding stands at 44.76%; Share Capital  stands at Rs.350.06 cr

Net worth stands at Rs.4781.35 cr;   B. V. per share is Rs.141.66

Return on Equity is 18.29%.

CASA % TO TOTAL DEPOSITS  stands at  34.46%  in  March,12; compared to 34.90% in Dec,11, and 30.98% in Dec,12.

Aggregate deposits stands at Rs.73840 Cr in March,12; Rs.66329 Cr in Dec,11 and Rs.81360 cr in Dec,12 a growth of 22.66% YoY.

Gross Advances stands at Rs.57,159 cr in Mar,12; 47,928 cr in Dec,11; and Rs.63040 cr in Dec,12; a growth of 31.53% YoY

Business Mix stands at Rs.134326 cr in March,12; Rs.116268 cr in Dec,11; and Rs.147922 cr in dec,12 , a growth of 27.23% YoY.

Bank has witnessed CAGR of 10.84% in CASA deposits ;  18.47% in total deposits ; and 23.36% in Advances over last 2 years.

CD Ratio stands at 74.07% in March 12; compared to 70.13% in Dec,11.

Total Restructured Advances was Rs.1845 cr in Dec,11 and Rs.4797 cr in Dec,12.Out of this Rs.2062 cr is covered by Govt Guarantee.

GOING FORWARD :

Bank is targeting a credit growth of 18% and deposit growth of 20%.

Bank expects to maintain NIM around 3% for the whole of FY 2012-13.

Bank has already opened 89 branches up to dec,12 and plans to open total 100 Branches in FY 13 and also open 150 -200 Branches every year.

 *  *  *  E  N  D  *  *  *