IDFC LIMITED - FIRST QUARTER RESULTS - Q1FY13 - NII UP 30% YoY; NET NPA 0.14%; PAT UP 21% YoY

IDFC LIMITED

Highlights of Q1FY13

Net Interest Income of  Rs.629 crore : an increase of 30%

Profit After Tax of Rs.380 crore for Q1FY13 compared to Rs.314 crore in Q1FY12: an increase of 21%

Balance sheet size as on June 30, 2012 – Rs.65,017 crore : an increase of 25% 

Gross Loan book increased from Rs.38,108 crore as on June 30, 2011 to Rs.50,892 crore as on June 30, 2012: an increase of 34%

Net NPAs at 0.14% of outstanding loans

Average Assets under management – Rs.36,472 crore

BALANCE SHEET

The balance sheet size grew by 25% from Rs.51,898 crore as on June 30, 2011 to Rs.65,017 crore as on June 30, 2012.

Gross Loan book increased by 34% from Rs.38,108 crore as on June 30, 2011 to Rs.50,892 crore as on June 30, 2012.

Gross Approvals doubled from Rs.5,799 crore in Q1FY12 to Rs. 11,744 crore in Q1FY13.

Gross Disbursements increased by 55% from Rs.2,904 crore in Q1FY12 to Rs.4,502 crore in Q1FY13. 

Cumulative Outstanding Approvals was Rs.76,412 crore as on June 30, 2012. 

INCOME

ƒNet Interest Income (NII) increased by 30% from Rs.483 crore in Q1FY12 to  Rs.629 crore in Q1FY13. 

NII from loans increased by 30% from Rs.428 crore in Q1FY12 to Rs. 555 crore in Q1FY13.

NII from treasury operations increased by 35% from Rs.55 crore in Q1FY12 to Rs.74 crore in Q1FY13.

Non Interest Income increased by 24% from Rs.110 crore in Q1FY12 to Rs.137 crore in Q1FY13. 

Income from principal investments were at Rs.2 crore

Asset management fees increased by 3% from  Rs.62 crore in Q1FY12 to  Rs.64 crore in Q1FY13.

Investment banking and Institutional broking income decreased by 38% from Rs.15 crore in Q1FY12 to Rs.9 crore in Q1FY13. 

Loan related and other fees increased by 78% from Rs.35 crore in Q1FY12 to  Rs.62 crore in Q1FY13.

PROFITS  

Profit before Tax increased by 23% from Rs.451 crore in Q1FY12 to Rs.553 crore in Q1FY13. 

 

After accounting for minority interest, tax and share of profit in associate company, PAT increased by 21% from Rs. 314 crore in Q1FY12 to Rs.380 crore in Q1FY13.

 EPS (diluted) increased by 23% from Rs.2.04 per share in Q1FY12 to Rs.2.50 per share in Q1FY13. 

CONSOLIDATED RESULTS TABLE

(Amounts in Crores)

Particular	Q1FY13	Q1FY12	%Growth	Q4FY12	%Growth
Net  Interest Income	629	483	30%	586	7%
Loans	555	428	30%	540	3%
Treasury	74	55	35%	46	63%
Non-Interest Income	137	110	24%	134	2%
Principal Investments	2	-2		29	-95%
Asset Management	64	62	3%	60	6%
Mutual Fund	35	33	7%	29	21%
Alternatives	29	29	-1%	31	-8%
Fees	29	29	-1%	29	-2%
Investment Bnkg&Broking	9	15	-38%	15	-35%
Investment Broking	3	4	-10%	4	-15%
InstitutionalBroking	6	11	-48%	10	-43%
LoanRelated&other Fees	62	35	78%	31	102%
OtherIncome	7	12	-43%	6	14%
OPERATING Income	772	604	28%	725	6%
OPERATING Expenses	117	114	3%	150	-22%
HR	66	65	1%	90	-27%
Non-HR	51	49	4%	60	-16%
Provisions	103	40	155%	84	22%
Loans	39	31	26%	76	-49%
Investments	64	10	562%	8	677%
PBT	553	451	23%	491	13%
Tax,Minority Intt etc	173	137	26%	156	11%
PAT	380	314	21%	335	13%

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IDFC = Infrastructure Development Finance Company Limited = RESULTS FOR = Q3 FY 2012 = Q/E DEC,2011 = NET SALES UP 25.5%; CONS-NPT UP 18.6% YoY

Infrastructure Development Finance Company Limited

NSE Symbol        IDFC

Infrastructure Development Finance Company has declared consolidated Results for the third quarter ending Dec,2011.

Net Sales in Q3 FY 12 stands at Rs.1639.18 Cr – down by -4.42% from Q2 FY 12; Up by 21.30% from Q1 FY 12; and Up by  25.49% from Q3 FY 11.

Other Expenditure  in Q3 FY 12 stands at Rs.142.09 Cr – up by 31.80% from Q2 FY 12; up by 80.63% from Q1 FY 12; and up by 24.18% from Q3 FY 11

Total Expenditure in Q3 FY 12 stands at Rs.224.36 Cr – up by 15.35% from Q2 FY 12; up by 46.59% from Q1 FY 12 and up by 5.81% from Q3 FY 11

Profit from Operations in Q3 FY 12 stands at Rs.1414.81 – down by  -6.95% from Q2 FY 12; Up by  18.07% from Q1 FY 12; and up by  29.3% from Q3 FY 11.

Interest expense  in Q3 FY 12 stands at Rs.880.21 Cr – up by 6.57% from Q2 FY 12; Up by 16.75% from Q1 FY 12; and up by 35.41% from Q3 FY 11.

Profit before tax in Q3 FY 12 stands at Rs.535.29 Cr – down by  -23.04% from Q2 FY 12; up by 18.69% from Q1 Fy 12; and up by 19.5% from Q3 FY 11.

Tax Expense in Q3 FY 12 stands at Rs.153.66 Cr down by  -10.38% from Q2 FY 12; up by 11.53% from Q1 FY 12; and up by     20.77% from Q3 FY 11.

Net Profit in Q3 FY 12 stands at Rs.381.63 Cr – down by -27.18% from Q2 FY 12; up by 21.84% from Q1 FY 12; and up by 19% from Q3 FY 11.

Consolidated NPT in Q3 FY 12 stands at Rs.381.22 Cr – down by         -27.29% from Q2 FY 12; up by 21.52% from Q1 FY 12; and up by 18.58% from Q3 FY 11.

Paid-up Equity in Q3 FY 12 stands at Rs.1463.54 Cr and Face Value is Rs.10

Basic EPS  in Q3 FY 12 is Rs.2.5 – against Rs.3.48 in Q2 FY 12; Rs.2.05 in Q1 FY 12; Rs.2.08 in Q3 FY 11.

On this basis, annual EPS may be around Rs.10.53.

The current Market price is Rs.133.40;   While the 52 week high price is Rs.167.20; and the 52 week low price  is Rs.90.40.

The PE Ratio comes to 12.67.

ANNOUNCEMENTS BY IDFC

10-02-2012        consolidated Results for the quarter ended on 31-DEC-2011 as follows: Net Sales of Rs. 163917.62 lacs for quarter ending on 31-DEC-2011 against Rs. 130625.6 lacs for the quarter ending on 31-DEC-2010. Net Profit / (Loss) of Rs. 38121.62 lacs for the quarter ending on 31-DEC-2011 against Rs. 32147.28 lacs for the quarter ending on 31-DEC-2010.

10-02-2012        standalone Results for the quarter ended on 31-DEC-2011 as follows: Net Sales of Rs. 158223.11 lacs for quarter ending on 31-DEC-2011 against Rs. 116214.62 lacs for the quarter ending on 31-DEC-2010. Net Profit / (Loss) of Rs. 38708.43 lacs for the quarter ending on 31-DEC-2011 against Rs. 30422.55 lacs for the quarter ending on 31-DEC-2010.

CONSOLIDATED RESULTS TABLE

IDFC-CONSOL	Q3FY12	Q2FY12	%DIF1	Q1FY12	%DIF2	Q3FY12	%DIF3
Net Sales	163917.6	171,492.80	-4.42	135,134.11	21.30	130,625.60	25.49
Employees Cost	7264.1	7,704.02	-5.71	6,491.94	11.89	8,736.75	-16.86
Depreciation	963.55	965.82	-0.24	946.93	1.76	1,026.46	-6.13
Other Expenditure	14208.5	10,780.53	31.80	7,866.17	80.63	11,441.52	24.18
Total Expenditure	22436.15	19,450.37	15.35	15,305.04	46.59	21,204.73	5.81
Profit from Operations	141481.5	152,042.43	-6.95	119,829.07	18.07	109,420.87	29.3
Other Income	69.1	110.95	-37.72	664.04	-89.59	375.35	-81.59
Interest	88021.3	82,597.16	6.57	75,393.83	16.75	65,001.87	35.41
Profit before tax	53529.27	69,556.22	-23.04	45,099.28	18.69	44,794.35	19.5
Tax Expense	15366.4	17,145.56	-10.38	13,778.01	11.53	12,723.88	20.77
Net Profit	38162.87	52,410.66	-27.18	31,321.27	21.84	32,070.47	19
Minority Interest	99.39	-5.19	-2,015.03	-		-24.94	-498.52
Shares of Associates	-58.14	-11.46	407.33	-51.96	11.89	-51.87	12.09
Consolidated NPT	38121.62	52,427.31	-27.29	31,369.53	21.52	32,147.28	18.58
Face Value (in Rs.)	10	10	0.00	10	0.00	10	0
Paid-up Equity	146353.7	146,332.70	0.01	146,277.16	0.05	146,076.54	0.19
Basic EPS	2.5	3.48	-28.16	2.05	21.95	2.08	20.19
Public holding (%)	100	100	0.00	100	0.00	100	0

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