IDBI Bank Ltd's Q2FY19 standalone net loss widens to Rs3,602cr yoy: Misses Estimates

The bank’s standalone NII in the quarter stood at Rs1,301cr, down 21.51% yoy and 20.6% qoq.

Nov 14, 2018 10:11 IST India Infoline Research Team

IDBI Bank Ltd Q2FY19

Standalone Results Q2FY19: (in Rs cr)

Q2FY19 YoY (%)
NII 1,301 [21.5]
GNPA (%) 31.8 680
Provisions 6,579.8 102.1
Net Loss (adjusted) 3,602 [1,720.7]
***GNPA change is bps
IDBI Bank's Q2FY19 revenue has declined by 25.8% yoy to Rs6,162cr. Its NII for the quarter came at Rs1,301cr as against Rs1,657cr yoy, which has declined by 21.5%. The bank reported a net loss of Rs3,602cr against net loss of Rs198cr reported in the corresponding quarter last year. Its GNPA for Q2FY19 stood at 31.8% against 30.78% qoq which has increased by 100bps qoq. NNPA for the quarter came at 17.3% against 18.8% qoq, which has decreased by 150bps qoq. 
  • The bank's slippages in Q2FY19 were the lowest in the last six quarters.

Technical View:

IDBI Bank Ltd is currently trading at Rs. 60.50, up by 0.6 points or 1% from its previous closing of Rs. 59.90 on the BSE.
The scrip opened at Rs. 60 and has touched a high and low of Rs. 61.15 and Rs. 58.90 respectively. So far 1,14,87,360 (NSE+BSE) shares were traded on the counter. The stock is currently trading below its 200 DMA.

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