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ICICI Bank slides after Q4 results

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Capital Market

ICICI Bank fell 3.61% to Rs 1,134.95 at 14:26 IST on BSE after net profit rose 21.19% to Rs 2304.07 crore on 10.26% rise in total income to Rs 12573.52 in Q4 March 2013 over Q4 March 2012.

The result was announced during trading hours today, 26 April 2013.

Meanwhile, the BSE Sensex was down 126.37 points, or 0.65%, to 19,280.48.

On BSE, 5.28 lakh shares were traded in the counter as against an average daily volume of 3.17 lakh shares in the past one quarter.

The stock hit a high of Rs 1,188 and a low of Rs 1,125.30 so far during the day. The stock had hit a 52-week high of Rs 1,231 on 31 January 2013. The stock had hit a 52-week low of Rs 767 on 18 May 2012.

 

The stock had outperformed the market over the past one month till 25 April 2013, rising 16.25% compared with the Sensex's 3.88% rise. The scrip had also outperformed the market in past one quarter, rising 0.40% as against Sensex's 3.47% fall.

The large-cap company has an equity capital of Rs 1153.58 crore. Face value per share is Rs 10.

Net interest income increased 22% to Rs 3803 crore in Q4 March 2013 from Rs 3105 crore in Q4 March 2012.

Cost-to-income ratio reduced to 40.0% in Q4 March 2013 from 41.6% in Q4 March 2012.

Provisions were at Rs 460 crore in Q4 March 2013 compared to Rs 469 crore in Q4 March 2012.

Total advances increased by 14% year-on-year to Rs 290249 crore at 31 March 2013 from Rs 253728 crore at 31 March 2012. The year-on-year growth in domestic advances was 18%.

As on 31 March 2013, savings account deposits were Rs 85651 crore and current account deposits were Rs 36926 crore. During Q4 March 2013, savings account deposits increased by Rs 4188 crore and current account deposits increased by Rs 1252 crore.

The bank's current and savings account (CASA) ratio improved to 41.9% at 31 March 2013 compared to 40.9% at 31 December 2012. The average CASA ratio improved to 38.1% during Q4 March 2013 compared to 37.4% in Q3 December 2012.

The bank's capital adequacy at 31 March 2013 as per Reserve Bank of India's guidelines on Basel II norms was 18.74% and Tier-1 capital adequacy was 12.80%, well above RBI's requirement of total capital adequacy of 9.0% and Tier-1 capital adequacy of 6.0%.

The bank's gross non-performing asset ratio declined to 2.68% at 31 March 2013 from 3.04% at 31 March 2012. The bank's net non-performing asset ratio was 0.64% at 31 March 2013 compared to 0.62% at 31 March 2012.

Net non-performing assets at 31 March 2013 were Rs 2234 crore compared to Rs 2185 crore at 31 December 2012 and Rs 1894 crore at 31 March 2012.

The bank's provision coverage ratio computed in accordance with the RBI guidelines was 76.8% at 31 March 2013. Net loans to companies whose facilities have been restructured were Rs 5315 crore at 31 March 2013 compared to Rs 4562 crore at 31 December 2012 and Rs 4554 crore at 31 March 2012.

The board has recommended a dividend of Rs 20 per equity share for the year ended March 2013.

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First Published: Apr 26 2013 | 2:29 PM IST

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