IDBI Bank Ltd's Q1FY19 standalone net loss widens to Rs2,409.90cr yoy : Misses Estimates

The bank’s standalone NII stood at Rs1,638.60cr, up 16.88% yoy and 78.99% qoq.

Aug 14, 2018 10:08 IST India Infoline Research Team

IDBI Bank Ltd Q1FY19

Standalone Results Q1FY19: ( cr)

Q1FY19 YoY (%)
NII 1,638.60 16.9
GNPA (%) 30.8 667
Provisions 5,236.07 153.0
Net Loss (adjusted) 2,409.90 [182.5]
***GNPA change is bps
IDBI Bank's Q1FY19 revenue has declined by 4.4% yoy to Rs6,402.5cr. Its NII for the quarter came at Rs1,638.6cr as against Rs1,401.9cr yoy, which has declined by 16.9%. The bank reported net loss of Rs2,409.9cr, against net loss of Rs853cr reported in corresponding quarter last year. Its GNPA for Q1FY19 stood at 30.78% against 27.95% qoq which has increased by 283bps. NNPA for the quarter came at 18.76% against 16.69% qoq which has increased by 207 bps.

  • Net Interest Margin improved by 45bps yoy to 2.17% in Q1FY19 from 1.72% Q1FY18.
  • CET 1 capital of the Bank stands at 5.84% as on June 30, 2018 as against 5.71% as on June 30, 2017. CRAR stood at 8.18% as on June 30, 2018.
  • Risk Weighted Assets (RWA) reduced by 23% to Rs1.99 lakh cr over June 30, 2017.
  • Provision Coverage Ratio (PCR) improved to 64.45% as on Q1FY19 from 52.42% as on Q1FY18.
  • Recovery from written-off accounts increased by 188% to Rs69cr for  Q1FY19 from Rs24cr for Q1FY18.
  • CASA increased by 4% to Rs85,180cr as on June 30, 2018 from Rs81,837cr as on June 30, 2017. CASA as June 2018 stood at 35.51% of total deposits.
  • Savings Bank Deposits increased by 11% to Rs54,772cr as on June 30, 2018 from Rs49,521cr as on June 30, 2017.
  • The composition of Advances portfolio, Corporate vs. Retail was aligned at 53:47 as on Q1FY19 end.
  • Cost to Income Ratio reduced to 52.62% as on June 30, 2018 from 59.61% as on June 30, 2017.




Technical View:

IDBI Bank Ltd ended at Rs. 60.30, down by 0.2 points or 0.33% from its previous closing of Rs. 60.50 on the BSE.
The scrip opened at Rs. 60.80 and touched a high and low of Rs. 61.10 and Rs. 58.25 respectively. A total of 2,44,69,992 (NSE+BSE) shares were traded on the counter. The stock traded below its 200 DMA.

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