- Net Income Surge: IDBI Bank’s net income rose to 17.2 billion rupees, a 41% increase from last year’s 12.2 billion rupees.
- Improved Asset Quality: Gross non-performing assets improved to 3.87%, down from 4.53% in the previous quarter.
- Recoveries vs. Provisions: Bank recoveries were 4.4 billion rupees, while provisions were significantly lower at 1.14 billion rupees quarter-on-quarter.
- Decline in Operating Profit: Operating profit fell by 31% year-on-year to 20.8 billion rupees.
- Interest Income Drop: Interest income saw a 2.8% decrease year-on-year, totaling 66.7 billion rupees.
- Increase in Interest Expense: Interest expenses rose by 20% year-on-year to 34.3 billion rupees.
- Other Income Decrease: Other income decreased by 4.9% year-on-year to 8.1 billion rupees.
- Share Performance: Shares of IDBI Bank rose by 3.3%, reaching 91.83 rupees, with 17.1 million shares traded.
- No Brokerage Actions: There are currently no buys, holds, or sells recommendations for IDBI Bank shares.
A look at IDBI Bank Ltd Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 4 | |
| Dividend | 5 | |
| Growth | 5 | |
| Resilience | 3 | |
| Momentum | 3 | |
| OVERALL SMART SCORE | 4.0 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Based on the Smartkarma Smart Scores, IDBI Bank Ltd seems to have a positive long-term outlook. With a high score in Dividend and Growth, the company appears to be performing well in terms of returning profits to its shareholders and sustaining growth in its operations. Additionally, a strong Value score suggests that IDBI Bank Ltd may be undervalued compared to its intrinsic worth. However, there are areas for improvement as indicated by slightly lower scores in Resilience and Momentum.
Overall, IDBI Bank Ltd, a provider of banking and financial services including venture capital and merchant banking, is positioned favorably for the future with strong performance in Dividend and Growth. Investors may find the company attractive due to its potential for long-term value appreciation and consistent dividend payouts, despite facing challenges in resilience and momentum.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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