IDFC gains after strong Q4 numbers

IDFC rose 2.65% to Rs 156.90 at 9:54 IST on BSE after consolidated net profit surged 57% to Rs 525.70 crore on 28.89% growth in total income from operations to Rs 2217.51 crore in Q4 March 2013 over Q4 March 2012.

The company announced Q4 results on Wednesday, 1 May 2013. The stock market was closed on that day on account of Maharashtra Day.

Meanwhile, the S&P BSE Sensex was up 75.44 points or 0.39% at 19,579.62.

On BSE, 5.27 lakh shares were traded in the counter as against average daily volume of 6 lakh shares in the past one quarter.

The stock hit a high of Rs 158.95 and a low of Rs 153.05 so far during the day. The stock had hit a 52-week high of Rs 185.35 on 7 January 2013. The stock had hit a 52-week low of Rs 110.50 on 7 May 2012.

The stock had outperformed the market over the past one month till 30 April 2013, surging 6.4% compared with the Sensex's 3.55% rise. The scrip had, however, underperformed the market in past one quarter, declining 9.21% as against Sensex's 2.5% fall.

The large-cap company has equity capital of Rs 1514.73 crore. Face value per share is Rs 10.

IDFC's consolidated net profit rose 18.15% to Rs 1836.20 crore on 28.32% growth in total income from operations to Rs 8138.59 crore in the year ended 31 March 2013 (FY 2013) over the year ended 31 March 2012 (FY 2012).

IDFC's operating income rose 16% to Rs 3468 crore in FY 2013 over FY 2012. Net interest income (NII) rose 22% to Rs 2564 crore in FY 2013 over FY 2012. Net interest margin (NIM) declined to 4.1% in FY 2013, from 4.3% in FY 2012. Non interest income rose 3% to Rs 883 crore in FY 2013 over FY 2012. IDFC's provisions rose 23% to Rs 350 crore in FY 2013 over FY 2012.

The company's networth improved to Rs 13683 crore as on 31 March 2013, from Rs 13614 crore as on 31 December 2012 and Rs 12285 crore as on 31 March 2012.

IDFC's balance sheet grew 16% to Rs 71059 crore as on 31 March 2013, from Rs 61003 crore as on 31 March 2012. Gross loan book rose 16% to Rs 56595 crore as on 31 March 2013 from 48887 crore as on 31 March 2012.

The company's average assets under management stood at Rs 38969 crore as on 31 March 2013.

The company's ratio of gross non-performing loans (NPLs) stood at 0.15% of outstanding loans as on 31 March 2013. The ratio of net NPLs stood at 0.05% of outstanding loans.

IDFC's board of directors at a meeting held on 1 May 2013, recommended dividend of Rs 2.60 per share for FY 2013.

IDFC is an integrated infrastructure finance player providing end to end infrastructure financing and project implementation services. The company also offers asset management services through IDFC Mutual Fund.

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