Dena Bank: Q4FY14 Result Analysis
Nutan Gupta / 15 May 2014
Mumbai based state-run lender Dena Bank announced its financial results for the quarter and year ended 31 March, 2014. The bank has posted a net profit of Rs 187.28 crore for the quarter. We give you the financial highlights of the performance.
Dena Bank's total income came in at Rs 2866.78 crore for the quarter ended 31 March, 2014. Of this total income, Rs 2594.37 crore is the interest earned for the quarter. The interest expended for the bank stood at Rs 1980.08 crore in the current quarter as compared to Rs 1742.30 crore in the corresponding quarter last year. The operating expenses of the bank came in at Rs 439.01 crore in Q4FY14 against Rs 396.68 crore in Q4FY13. The operating profit of the bank rose by 11.71% in the current quarter to reach Rs 447.69 crore as against Rs 400.76 crore in the same quarter last year. All in all, the net profit of the bank registered a growth of 49% and came in at Rs 187.28 crore in the current quarter as compared to Rs 125.67 crore in the corresponding quarter last fiscal.
The bank's gross non-performing assets (NPAs) slipped to 3.33% in the quarter ending 31 March, 2014 from 2.96% in the last quarter ended 31 December, 2013. Net NPAs were also on a declining trend and stood at 2.35% in the current quarter against 2% in the last quarter. The annualised return on assets (RoA) for the quarter stood at 0.64%.
Coming to the segment wise results, out of the total income from operations of Rs 2866.78 crore, Rs 695.40 crore came in from the treasury segment, Rs 1550.46 crore came in from the corporate/wholesale banking segment, Rs 569.14 crore came in from the retail banking segment and Rs 51.78 crore came in from other banking operations.
The provision coverage ratio was at 56.44% as on 31 March, 2014. The bank has paid an interim dividend of 11% viz Rs 1.10 per share in January 2014 and further the Board of Directors proposed a final dividend at 11% viz Rs 1.10 per share of Rs 10 for FY 2013-14.
Follow this space for updates from the management.
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