IDBI Bank Q1FY13 Result - First Cut - Microsec Research

IDBI Bank Ltd has announced its Q1FY13 result on 31st July 2012. The bank's total income decreased by 10.07% QoQ and increased by 12.90% YoY to INR1787.61 crores. Whereas, Profit After Tax (PAT) decreased by 44.56% QoQ and increased by 27.53% YoY to INR427.34 crores. During the quarter, bank's Net Interest Income (NII) and Other Income increased by 10.25% and 19.98% YoY to INR1270.61 and INR517 crores respectively. Bank has also increased the provision amount by 85.11% QoQ and 19.06% YoY to INR506.82 crores.

On the assets quality front, bank's assets quality is still the matter of concern. NNPA and GNPA stood at 2.07% and 3.24%, increased by 46 and 75bps QoQ and 82 and 114bps YoY respectively. However, bank continues to be well capitalized to support its growth trajectory, Capital Adequacy Ratio (CAR) stood at 14.36%, which is 5.36% higher than the regulator's stipulated norm.

Source : Equity Bulls

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