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IDFC Bank: Good start - Views on News from Equitymaster
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IDFC Bank: Good start
Jan 29, 2016

IDFC Bank declared its results for the third quarter of the financial year 2015-16 (3QFY16), which was the first quarter of its operating performance. Since the bank commenced operations on 1st October 2015 and this being the maiden quarterly performance, the year-ago figures are not available for comparison.

Performance summary

  • Net interest income stands at Rs 3.9 bn and Rs 4.3 bn for 3QFY16 and 9mFY16, respectively.
  • Net advances grew by 3% on QoQ basis to 429.9 bn as on 31st December 2015.
  • NIMs (net interest margins) stands at 2% for 3QFY16.
  • Net NPAs (Non Performing Assets) ratio stands at 1% on 31st December 2015.
  • Net profit stands at Rs 2.4 bn and Rs 3 bn for 3QFY16 and 9mFY16, respectively.
  • Capital adequacy ratio stands at 20.3% of which Tier I capital ratio stands at 19.5% the end of 3QFY16.

Financial snapshot

Rs (m) 3QFY16 9mFY16
Interest income 17,891 18,333
Interest expense 14,028 14,028
Net Interest Income 3,863 4,305
Net interest margin (%) 2.00%  
Other Income 2,179 2,655
Other Expense 2,153 2,159
Provisions and contingencies 123 123
Profit before tax 3,766 4,678
Tax 1,345 1,660
Profit after tax/ (loss) 2,422 3,018
Net profit margin (%) 13.5% 16.5%
No. of shares (m)   3392.6
Book value per share (Rs)   40.0
P/BV (x)   1.25
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