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IDBI Bank: Stage set for growth

Apr 21, 2004

IDBI Bank, despite uncertainties regarding its future, continues to maintain its strong growth performance. Its strong growth momentum has been mainly led by strong growth in its advances (aiding topline growth) as well as strong growth in its other income. The bank has reported a strong bottomline growth of 86.3% on the back of a 23% rise in topline for FY04. The performance of the bank in March quarter is also strong with a 33% topline improvement and a 129% bottomline growth albeit on a lower base.

(Rs m) 4QFY03 4QFY04 Change FY03 FY04 Change
Income from Operations 1,562 2,081 33.2% 5,981 7,368 23.2%
Other Income 436 519 19.0% 1,651 2,103 27.4%
Interest Expenses 976 1,083 11.0% 3,965 4,057 2.3%
Net interest income 586 997 70.3% 2,016 3,311 64.2%
Other Expenses 597 720 20.6% 2,066 2,566 24.2%
Operating Profit (11) 278   (49) 745  
Operating Profit Margin (%) -0.7% 13.3%   -0.8% 10.1%  
Provisions and Contingencies 155 213 37.9% 489 759 55.5%
Profit before Tax 270 583 116.0% 1,113 2,088 87.6%
Tax 105 206 95.7% 402 763 90.0%
Profit after Tax/(Loss) 164 376 129.0% 711 1,325 86.3%
Net Profit Margin (%) 10.5% 18.1%   11.9% 18.0%  
No. of Shares (m) 140.0 213.6   140.0 214.2  
Diluted Earnings per share* 4.7 7.1   5.1 6.2  
P/E Ratio         8.9  
*(annualised)            

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