Corporation Bank - Q4FY12 Result First Cut - Microsec Research

Corporation Bank has announced its Q4FY12 along with Annual FY12 result on 4th April 2012.

On the quarterly basis, the bank's total income is down by 1.41% QoQ and up by 1.75% YoY to INR1257.23 crores. Profit After Tax (PAT) is down by 12.67% QoQ and up by 1.72% YoY to INR351.27 crores mainly, because of higher provisioning, increased by 23.57% QoQ and 33.52% YoY to INR337.71 crores. For the whole year of FY12, the bank's total income is increased by 10.66% YoY to INR4653.98 crores, while, Profit After Tax (PAT) is increased by 6.92% YoY to INR351.27 crores.

The Bank has reported a growth in advances by 8.76% QoQ and 15.68% YoY to INR100469.02 crores and a growth in deposits by 7.53% QoQ and 16.61% YoY to INR136142.20 crores. The NNPA and GNPA of the bank stood at 0.87% and 1.26% decreased by 9bps each QoQ and increased by 41 and 35bps YoY respectively. However, the bank is in good position to tame any time liabilities with 89.06% of its Provision Coverage Ratio (PCR). The Capital Adequacy Ratio (CAR) stood at 13%.

The Board of Directors have recommended a dividend of 205% i.e. Rs.20.50 per equity share for the financial year 2011-12.

Shares of Corporation Bank closed on Friday at Rs.385.30, down by Rs.14.80 or 3.70%. The stock hit an intraday high of Rs.406.95 and low of Rs.378.40.

The total traded quantity was 1.49 lakhs compared to 2 week average of 0.25 lakhs.

Source : Equity Bulls

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