Indian Bank - Q1FY13 Resut First-Cut - Microsec Research

Indian Bank Ltd has announced its Q1FY13 result on 23rd July 2012. The bank's total income decreased by 0.99% QoQ and increased by 7.55% YoY to INR1375.85 crores. The Other Income of the bank decreased by 27.45% QoQ and 10.67% YoY to INR222.70 crores has hit the bank's top line. Whereas, Profit After Tax (PAT) increased by 33.67% QoQ and 13.47% YoY to INR461.74 crores. During the quarter, bank has reduced its Provision and Contingencies by 74.07% QoQ and 17.67% YoY to INR145.70 crores, which has supported the bank's bottom line.

On the assets quality front, the bank has improved its assets quality, NNPA and GNPA decreased by 29 and 37bps QoQ to 1.04 and 1.66% respectively. Moreover, the Capital Adequacy Ratio (CAR) stood at 12.98%, which is ~4% higher than the regulator stipulated norm.

Source : Equity Bulls

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