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UTI Bank: Robust growth but...

Jan 16, 2003

UTI Bank has reported a 44% YoY jump in its net profits for 3QFY03. Total operating income on the other hand has increased by 30% YoY in the same period. This performance has been consistent with the bank's performance in its earlier quarters. Infact, on a net profit basis the performance in the December quarter has been better than that in the September quarter. On a nine month basis, net profits have grown by 43%.

(Rs m) 3QFY02 3QFY03 Change 9m FY02 9m FY03 Change
Income from Operations 2,897 3,769 30.1% 8,302 10,787 29.9%
Other Income 1,043 1,125 7.9% 2,974 2,908 -2.2%
Interest Expenses 2,389 2,854 19.5% 7,121 8,559 20.2%
Net interest income 509 915 79.9% 1,181 2,228 88.7%
Other Expenses 493 779 58.1% 1,395 2,141 53.4%
Operating Profit 16 136 754.7% -214.7 87 -140.6%
Operating Profit Margin (%) 0.5% 3.6%   -2.6% 0.8%  
Provisions and Contingencies 475 457 -3.8% 1,221 937 -23.3%
Profit before Tax 584 804 37.8% 1,538 2,058 33.8%
Tax 226 289 27.9% 617 741 20.2%
Profit after Tax/(Loss) 358 515 44.0% 921 1,317 43.0%
Net Profit Margin (%) 12.3% 13.7%   11.1% 12.2%  
No. of Shares (m) 178.3 191.8   178.3 191.8  
Diluted Earnings per share* 7.5 10.7   6.4 9.1  
P/E Ratio   4.4     5.1  
*(annualised)            

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