IDBI Bank's Q1 Net profit at 307 Crore 

IDBI Bank's FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 2013

IDBI Bank's Q1 net at  307 Crore

Highlights of Q1 FY 14 ( June 2013 ) financial results vis-à-vis Q1 FY 13 (June 2012)

       Operating Profit at  1317 Crore increased by 16% ( 1132 Crore in Q-1 of FY 2013)  
       NII grew by 16% to  1,475 Crore (Q1 of FY 2013  1,271 Crore)   
       Business up by  3336 crore to  3,62,222 Crore (Previous year  3,58,886 Crore)
       Advances up by 7% to  1,78,945 Crore (previous year  1,67,138 Crore)
       Total assets grew by 6 % to  287790  Crore (Previous year  271361 Crore)

New Delhi, July 18, 2013: The Board of Directors of IDBI Bank Ltd. (IDBI) met in New Delhi today to consider the unaudited financial results for the quarter ended June 30, 2013, which are as under:

Working results:

(  in Crore )
	Q1 2013-14		Q1 2012-13		FY 2012-13
Total Income	7445		6790		28284
Interest income	6728		6270		25064
Non-Interest Income	717		520		3220
Total Expenses	6128		5658		22826
Interest expenses	5253		4999		19691
Operating expenses	875		659		3134
Operating Profit	1317		1132		5458
Provisions (net)	1010		705		3576
Net Profit	307		427		1882

Profitability:

IDBI reported increase of 16 % in Operating Profit to  1317 Crore for the quarter ended June 30, 2013 as against  1132 Crore in corresponding quarter.

Net Profit for the quarter ended June 30, 2013 stood at  307 Crore as against  427 Crore in the corresponding quarter.

Total business (deposits and advances) as of June 30, 2013 stood at  3,62,222 Crore as against  3,58,886 crore as of June 30, 2012, registering a growth of  3336 Crore.

Advances increased by 7% to  1,78,945 crore at end- June 2013 from  167138 crore as at end- June 2012.

Aggregate assets as of June 30, 2013, stood at  2,87,790 crore as against  2,71,361 crore as at end- June 30, 2012, registering a growth of 6%.

Significant developments from April - June 2013:

       IDBI Bank Ltd. and Passenger Car Business Unit of International Cars & Motors Limited (ICML) entered into a Memorandum of Understanding (MoU) for providing Auto Finance to prospective customers of ICML.
       IDBI Bank has been adjudged winner in 'Human Capital Development Category' for "Leveraging Human Capital to Deliver Customer Delight and Impact Overall Growth" at the ADFIAP (Association of Development Financing Institutions in Asia & the Pacific) Development Awards 2013 in Ulaanbaatar, Mongolia.
       IDBI Bank released Optionally Convertible Cumulative Preferential Shares (OCCPS) to Ananya Finance for Inclusive Growth Private Limited (Ananya). With the investment from IDBI Bank, Ananya will be able to expand its work in the sector of financial inclusion, especially of low income households by supporting strong and socially responsible institutions working across the country.
       IDBI Bank Limited has entered into a tie up arrangement with Jain Irrigation Systems Limited (JISL) for financing Minor Irrigation Systems to individual farmers. The tie-up provides assistance to farmers across all the branches of the Bank wherever JISL has a dealer network.
       IDBI Bank's brick and mortar Branch network scaled the magic figure of 1111 with the simultaneous 'virtual' inauguration of 29 branches by the then CMD, Shri R. M. Malla at 11:11 a.m. on 22nd May, 2013. The Branches are situated in the states of Andhra Pradesh, Chhattisgarh, Gujarat, Haryana, Karnataka, Madhya Pradesh, Maharashtra, Punjab, Rajasthan, Tamil Nadu, Tripura and Uttar Pradesh; of these, over 50% are situated in semi-urban and rural areas (all of which are unbanked centers).

 

Press Invite

 

Centre for Science and Environment

Workshop series on Transport and Climate

 

Gulmohar Hall, India Habitat Centre, New Delhi

 

July 24-25, 2013

 

Centre for Science and Environment (CSE) invites you to a two-day workshop series on the broad theme of “Transport and Climate”. Top international and national experts, regulators, and civil society groups will come together in this series to discuss vehicle technology and mobility and urban design approaches to reduce energy and climate impacts of motorisation in Indian cities.

 

Day 1: July 24

Vehicles: From guzzling to warming

 

India is experiencing rapid motorisation. Not only are vehicle numbers galloping, but the market is also shifting steadily towards bigger cars. This is inciting massive oil guzzling in the transportation sector and worsening climate risk.

 

If the target of improving fuel efficiency by 50 per cent, as envisaged by India’s energy policy, is achieved by 2030-31, India can save 65 per cent of its total current consumption and reduce CO2 emissions equal to removing seven million of today’s four-wheelers.

 

Is India prepared to address this energy and climate challenge in the transportation sector? Join scientists and experts from across the world —the US, Europe, China, Singapore, Hong Kong, and Brazil —and from India who will share their learning curve.

 

Day 2: July 25

Designing cities for sustainable mobility

 

Sprawl-oriented land use policies are encouraging longer travel distances —leading to enormous emissions and fuel use, making our cities unsustainable. Urban and road design must not increase dependence on and usage of personal vehicles. We can reverse this trend only if cities integrate transportation and land use plans and are built on the basis of well integrated public transport, walking, and cycling.

 

But are we willing to or capable of doing that?

 

Listen to some of the world’s key experts debate these issues. Get a grasp on the latest developments. Take advantage of the opportunity to interact with and interview civil society activists, scientists and lawmakers.

 

Registration is on-the-spot and free.

 

Please contact Sheeba Madan at sheeba@cseindia.org / 8860659190 to RSVP and/ or for any queries.

June 2013 CPI inflation grows at 9.8 %

(Rural India inflation increased to 9.6% as compared to 8.9% in May 2013 and urban India inflation increased to 10.1% as against 9.6% in May 2013)

The all India general CPI (Combined) for June 2013 stands at 9.8% as compared to 9.3% for the previous month of May 2013. The inflation rates for rural and urban areas for June 2013 are and 9.6% and 10.1% respectively as compared to 8.9% and 9.6% respectively, for May 2013.

Consumer Price Index (combined)

Source: PHD Research Bureau, compiled from MOSPI.

Rate of inflation during June 2013 is high in cereals and products at 17.59%, vegetables at 14.55%, egg, meat & fish at 12.69%, food and beverages at 11.84%, sugar at 9.09%, pulses and products at 8.82%, condiments and spices at 7.73% and oils and fats at 5.23%.

                     

  All India annual inflation rates (%) for June 2013 and May 2013

Category	Annual inflation rate ( June 2013 )			Annual inflation rate ( May 2013 )
	Rural	Urban	Combined	Rural	Urban	Combined
Milk and products	8.33	7.41	7.96	7.68	6.00	7.06
Clothing, bedding and footwear	9.74	9.58	9.71	9.76	9.65	9.72
Oils and fats	7.63	0.49	5.23	7.61	1.34	5.49
Fuel and light	8.41	9.00	8.72	8.24	9.06	8.55
Condiments and spices	7.51	8.12	7.73	6.39	6.70	6.52
Non-alcoholic beverages	9.46	12.82	10.92	8.92	12.55	10.47
Fruits	8.82	5.65	7.49	7.06	4.53	6.01
Egg, fish and meat	10.94	16.18	12.69	11.46	14.66	12.52
Prepared meals etc	9.40	11.63	10.47	8.95	11.80	10.29
Pulses and products	9.18	8.30	8.82	9.25	10.49	9.59
Food and beverages	11.44	12.75	11.84	10.32	11.41	10.65
Cereals and products	16.05	21.99	17.59	14.74	21.25	16.29
Sugar etc	9.67	7.53	9.09	9.48	8.47	9.21
Vegetables	11.47	21.31	14.55	7.62	14.52	9.78
General Index (All Groups)	9.63	10.13	9.87	8.98	9.65	9.31

Source: PHD Research Bureau, compiled from MOSPI.

Consumer Price Index for the month of June 2013 for rural, urban and combined stood at 132.1, 130.5 and 131.4 respectively.

  Index rural area vis-à-vis urban area

 Source: PHD Research Bureau, compiled from MOSPI.

General Consumer Price Index (combined) is highest in the state of Meghalaya at 138.8, followed by Karnataka at 136.3, Tamil Nadu at 136.2, Puducherry at 133.1, Kerela at 132.9, West Bengal at 132.8 & Andhra Pradesh at 132.7. The index stood lowest in Manipur at 116.8.

State wise CPI Index-June 2013

Source: PHD Research Bureau, compiled from MOSPI.

Warm regards,

Dr. S P Sharma

Chief Economist