IDFC
IDFC posted not-so-encouraging Q4FY14 numbers. The most disturbing part of the numbers was the 193% (QoQ) and 1221% (YoY) jump in provisioning – it has gone up to Rs.483 crore in Q4FY14. Growth in NII, sequentially was flat, showing a rise of just 1% at Rs.668 crore of this loans showed a degrowth of 1% while treasuries is what boosted the income, up 16%. Its pre-provisioning profit showed a rise of 15% (QoQ) but after the provisioning, net profit for the quarter slumped 48% at Rs.258 crore and YoY, it was down sharper at 51%. The institution had a 50% (QoQ) lower tax provisioning and that thankfully kept a leash on the falling profit. It’s restructured loans' share as on March 31, 2014 was 4.5% of gross loans. The Gross NPL was at 0.6% and Net NPL was at 0.4% of outstanding loans.
For FY14, net profit declined 2% at Rs.1803 crore. NIM was almost flat at 4% v/s 4.1% in previous fiscal. NII showed a 5% rise at Rs.2704 crore. CAR as at 31st March 2014 was at 22.3% of which Tier I is at 20.1%. Its Gross Approvals during the year decreased by 1% while Gross Disbursements decreased by 8%. The Cumulative Outstanding Approvals was at Rs.77,621 crore as on March 31, 2014. Restructured Loans at end of FY14 stood at 4.5% of gross loans. Provisions increased by 80% from Rs.350 crore in FY13 to Rs.628 crore in FY14.