UTI Bank: Growth as expected - Views on News from Equitymaster

Helping You Build Wealth With Honest Research
Since 1996. Try Now

StockSelect
  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

UTI Bank: Growth as expected

Apr 30, 2004

UTI Bank has reported robust earnings growth in its financial results for FY04. The bank has reported a 8% rise in topline while the bottomline grew by a significant 45% in FY04. As has been seen in the earlier quarters, this growth in earnings was achieved mainly by significant reduction in interest expenses as well as strong growth in other income. The operating margins of the bank have also improved significantly. The bank has also increased provisioning, as a result of which the quality of assets has improved substantially. For the March quarter, while the topline growth has been rather marginal at 4%, bottomline has grown by a healthy 44%.

(Rs m) 4QFY03 4QFY04 Change FY03 FY04 Change
Income from operations 3,965 4,115 3.8% 14,648 15,867 8.3%
Other income 1,197 1,025 -14.4% 4,105 5,402 31.6%
Interest expenses 2,865 2,474 -13.7% 11,424 10,215 -10.6%
Net interest income 1,100 1,641 49.2% 3,224 5,653 75.3%
Other expenses 1,037 1,250 20.5% 3,229 4,192 29.8%
Operating profit 63 392 524.4% (5) 1,461 -
Operating profit margin (%) 1.6% 9.5%   0.0% 9.2%  
Provisions and contingencies 306 303 -0.8% 1,088 2,568 136.0%
Profit before tax 954 1,113 16.6% 3,012 4,294 42.6%
Tax 349 242 -30.6% 1,090 1,511 38.6%
Profit after tax/(loss) 605 871 43.9% 1,922 2,783 44.8%
Net profit margin (%) 15.3% 21.2%   13.1% 17.5%  
No. of shares (m) 230.2 231.6   230.2 231.6  
Diluted Earnings per share (Rs)* 10.5 15.0   8.3 12.0  
P/E (x)         13.3  
*(annualised)            

To Read the Full Story, Subscribe or Sign In
To Read the Full Story, Subscribe or Sign In


Covid-19 Proof
Multibagger Stocks

Covid19 Proof Multibaggers
Get this special report, authored by Equitymaster's top analysts now!
We will never sell or rent your email id.
Please read our Terms

AXIS BANK SHARE PRICE


Sep 29, 2020 11:45 AM

TRACK AXIS BANK

  • Track your investment in AXIS BANK with Equitymaster's Portfolio Tracker. Set live price alerts, get research alerts and more. Get access now...
  • Add To MyStocks

AXIS BANK - DEUTSCHE BANK COMPARISON

COMPARE AXIS BANK WITH

MARKET STATS