Allahabad Bank Q1FY13 Result - First Cut - Microsec Research

Allahabad Bank has announced its Q1FY13 result on 30th July 2012. Bank's total income decreased by 1.83% QoQ and increased by 10.53% YoY to INR1615.42 crores. Whereas, Profit After Tax (PAT) increased by 28.44% QoQ and 22.94% YoY to INR514.03 crores. During the quarter, bank has reduced its provision amount by 31.08% QoQ and 2.04% YoY to INR313.15 crores, which has boosted the bank's bottom line.

On the assets quality front, bank's assets quality is still the matter of concern, NNPA and GNPA increased by 11 and 13bps QoQ and 49 and 34bps YoY to 1.09% and 1.96% respectively. Capital Adequacy Ratio (CAR) stood at 12.94%, which is 3.94% higher than the regulator's stipulated norm. On the margin front, Net Interest Margin (NIM) decreased by 31bps QoQ and 23bps YoY to 3.17%. Bank's CASA ratio and Provision Coverage Ratio (PCR) stood at 29.78% and 73.57% respectively.

Source : Equity Bulls

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