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www.myiris.com
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23.04.08
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| Indian Bank Q4 net up 2.7%; scrip down 6% |
State-run lender Indian Bank (Q, N,C,F)* reported a marginal 2.7%
growth in its fourth-quarter earnings at Rs 2,416.70 million
compared with Rs 2,353.10 million in the corresponding quarter,
a year ago.
Interest earned rose 11.5% to Rs 13,599.90 million for the fourth
quarter ended Mar. 31, 2008 as against Rs 12,196.40 million
in the corresponding quarter, a year ago.
Total income also rose 6.98% to Rs 16,728.50 million, up from
Rs 15,636.10 million in the fourth quarter, a year ago. EPS
dipped 4.28% to Rs 5.37 for the quarter ended March 2008.
| Quarterly Results - standalone (Rs in mn) | | As at | Mar - 08 | Mar - 07 | %Change | | Interest Income | 13,599.90 | 12,196.40 | 11.51 | | Net Profit | 2,416.70 | 2,353.10 | 2.70 | | Basic EPS | 5.37 | 5.61 | (4.28%) |
Indian Bank reported 32.77% increase in net profit to Rs 10,087.40
million for the year ended March 2008 as against Rs 7,597.70
million, a year ago. Bloomberg had estimated net profit of Rs
10.568.52 million for the year ended March 2008.
Interest earned rose 20.21% to Rs 51,507.80 million for the
year ended Mar. 31, 2008 as against Rs 42,846.50 million in
the previous year.
Total income also rose 23.93% to Rs 62,186.70 million as against
Rs 50,178.60 million in the last year.
The bank`s diluted EPS stood at Rs 22.52 for the year ended
March 2008, a rise of 10.68% over last year. The EPS posted
by the company are below analysts expectations of Rs 24.55 for
the the year.
Shares of the bank were last trading at Rs 146.95, down Rs 9.20,
or 5.89%. The total volume of shares traded at the BSE was 321,063.
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