IDBI Bank - Q3FY13 Result First-Cut - Microsec

IDBI Bank Ltd has announced its Q3FY13 result on 19th January 2013.

The bank's total income increased by 18.16% QoQ and 53.01% YoY to INR2283.01 crores, driven by robust YoY growth in its Net Interest Income (NII) and Other Income by ~33% and ~101% respectively. Whereas, Profit After Tax (PAT) decreased by 13.81% QoQ and increased by 1.70% YoY to INR416.76 crores. During the quarter, bank has increased its provisions and contingencies by 94.70% QoQ and 136.46% YoY to INR962.95 crores which has affected its bottom line numbers.

Bank's loans book and total deposits expanded by 9.83% and 5.36% YoY to INR170959 and INR186623 crores respectively. On the assets quality front, NNPA improved by 11bps QoQ and 3bps YoY to 1.93% whereas, GNPA increased by 22bps QoQ and 73bps YoY to 3.67%. Moreover, bank is well capitalized to support its growth trajectory, Capital Adequacy Ratio (CAR) improved by 28bps QoQ and 66bps YoY to 14.19% which is 5.19% higher than the regulator's stipulated norm. On the margin front, bank has improved its Margin by 25bps QoQ and 41bps YoY to 2.30%. Bank has also improved its provisions by 631bps QoQ and 1607bps YoY to 50.17%. Moreover bank's low cost deposits base (CASA ratio) has been improved by 33bps QoQ and 260bps YoY to 22.27%.

Source : Equity Bulls

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