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Thursday 12 May 2016

Indian Bank Q4 profit down by 59% : 12 May 2016

Indian Bank has posted a 59 per cent drop in net profit to Rs 84.49 crore for the quarter ended March 31, 2016 from Rs 206.15 crore for the quarter ended March 31, 2015.

Total Income has increased to Rs 4,513.60 crore for the quarter ended March 31, 2016 from Rs 4,410.48 crore for the quarter ended March 31, 2015.

Bank's gross NPA rose to Rs 8,827.04 crore from Rs 5,670.44 crore. In percentage terms it rose to 6.66 per cent from 4.40 per cent. Net NPA rose to Rs 5,419.40 crore from Rs 3,146.95 crore. In percentage terms it was increased to 4.20 per cent from 2.50 per cent.

"There are additional provisions. The slippage is Rs 3,368 crore from the previous year figure, which was around Rs 800-900 crore. Obviosly there was provision. But the important factor is operating profit, which has increased from the previous year figure," said Mahesh Kumar Jain, managing director and chief executive of Indian Bank.

The provisioning for the year was around Rs 2,400 crore compared to around Rs 1,200 crore.

In tune with the RBI directive on Asset Quality Review (AQR) and others, the loans under stress related to the inherent weakness in certain sectors and accounts, were identified as NPA.The stressed sectors are power, textile, iron and steel etc."As far as the major stressed sectors are concerned, the balance sheet is clean. From April, our business is as usual," Jain said.

The board has discussed the future course of the Bank and decided to position Indian Bank as mid sized bank with focus on retail and mid corporate segment. It will launch separate verticals for mortgage loan including housing loan, for MSME and Other retail for financial inclusion verticals.These verticals will have COOs appointed from outside and dedicated branches, while the existing banks would generate the lead as per the target assigned by the management.

During the fourth quarter, we have sold Rs 1,106 crore assets which were over and above the book value.

Quarterly Results of Indian Bank

------------------- in Rs. Cr. -------------------
Mar '16Dec '15Sep '15Jun '15Mar '15
Interest Earned
(a) Int. /Disc. on Adv/Bills2,892.912,932.763,033.473,065.093,011.42
(b) Income on Investment1,062.601,022.781,045.831,024.97912.98
(c) Int. on balances With RBI20.8538.6657.5628.9131.96
(d) Others7.885.194.33----
Other Income529.36439.02437.47375.57454.12
Interest Expended2,849.622,888.583,060.772,998.642,848.44
Employees Cost487.24498.59490.45530.11435.85
Other Expenses349.33290.70291.92257.15308.95
Operating Profit before Provisions and contingencies827.41760.53735.51708.64817.25
Provisions And Contingencies813.58718.05137.08408.07562.57
Exceptional Items----------
P/L Before Tax13.8342.48598.43300.57254.68
P/L After Tax from Ordinary Activities84.4942.30369.31215.28206.16
Prior Year Adjustments----------
Extra Ordinary Items----------
Net Profit/(Loss) For the Period84.4942.30369.31215.28206.16
Equity Share Capital480.29480.29480.29480.29480.29
Reserves Excluding Revaluation Reserves12,998.0612,077.4512,077.4512,077.4512,077.45
Equity Dividend Rate (%)----------
a) % of Share by Govt.82.1082.1082.1082.1082.10
b) Capital Adequacy Ratio - Basel -I----------
c) Capital Adequacy Ratio - Basel -II13.6713.1512.9312.4913.24
EPS Before Extra Ordinary
Basic EPS1.760.887.694.484.43
Diluted EPS1.760.887.694.484.43
EPS After Extra Ordinary
Basic EPS1.760.887.694.484.43
Diluted EPS1.760.887.694.484.43
NPA Ratios :
i) Gross NPA8,827.047,071.355,772.785,815.155,670.44
ii) Net NPA5,419.403,881.003,187.543,193.293,146.96
i) % of Gross NPA6.665.614.614.654.40
ii) % of Net NPA4.203.172.602.622.50
Return on Assets %
Public Share Holding
No Of Shares (Crores)----8.608.608.60
Share Holding (%)----17.9017.9017.90
Promoters and Promoter Group Shareholding
a) Pledged/Encumbered
- Number of shares (Crores)----------
- Per. of shares (as a % of the total sh. of prom. and promoter group)----------
- Per. of shares (as a % of the total Share Cap. of the company)----------
b) Non-encumbered
- Number of shares (Crores)----39.4339.4339.43
- Per. of shares (as a % of the total sh. of prom. and promoter group)----100.00100.00100.00
- Per. of shares (as a % of the total Share Cap. of the company)----82.1082.1082.10
NotesNotes To The AccountsNotes To The AccountsNotes To The AccountsNotes To The Accounts
Source : Dion Global Solutions Limited


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