Repro India Q2 FY11-12 net profit rises to Rs9.4 crore

Repro India Q2FY2012 net profit rise to Rs9.40 crore; up 84%, revenue at Rs77.36 crore; jumps 18%

Repro India, a value added end-to-end print solution provider for domestic and international customers, reported 84% rise in its net profit at Rs9.40 crore for the quarter ended 30 September 2011 compared to Rs5.10 crore reported in the same period of last year.

Revenue for the quarter stood at Rs77.36 crore, a rise of 18% against Rs65.46 crore in the corresponding quarter. EBIDTA margin for the quarter stood at 17% as compared to 15% in Q2FY11. EBIDTA margin during the quarter rose 13% to Rs13.08 crore.
EPS for the quarter stood at Rs8.69 compared to Rs4.66 for the corresponding quarter of last year.

Commenting on the Q2FY12 performance Mukesh Dhruve, director, Repro India Ltd said, “With a focused strategy towards making our service solutions available globally, we have expanded geographies across continents, meeting the requirements of corporate and publishers around the world. This quarter, we added Baker & Taylor, BPP and Random House to our client list.”

“There are lots of opportunities for large integrated printers in India. While India is currently 12th largest printing market globally, it is poised to climb to 8th position if the current growth curve continues,” added Dhruve.

In the early afternoon, Repro India was trading at around Rs169.75 per share on the Bombay Stock Exchange, 2.44% down from the previous close.

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Non-interest income lifts Yes Bank profit 33%

Yes Bank posted a 33.3% growth in net profit at Rs235 crore for the second quarter on the back of a healthy growth in its non-interest income

Private sector lender Yes Bank posted a 33.3% growth in net profit at Rs235 crore for the second quarter on the back of a healthy growth in its non-interest income, which offset a marginal dip in net interest margin. The Mumbai-headquartered bank's net profit for the July-September of last fiscal was Rs176.3 crore. The bank's non-interest income grew 63.4% to Rs214 crore while the more important net interest income component was up 23.1% to Rs385.6 crore.
Deputy chief financial officer Jaideep Iyer said the bank closed good deals on its debt capital markets practice and overall financial advisory fees in the reporting quarter which helped growth, contributing to the spike in the non-interest income during the quarter. However, income from the distribution vertical was "flat and stable", he said without giving absolute numbers. The net interest margin dipped to 2.9% during the quarter from the 3% observed in the year ago period while sequentially, it showed an improvement of 10 basis points, he said.

Its net non-performing assets ratio improved to 0.04% as on 30 September 2011.
However, Iyer said in the next couple of months, the bank will launch auto and commercial vehicle finance products to drive up its retail segment, which accounts for only 14.9% of the book.

Additionally, it will also be introducing home loans as an add-on for customers to complete its product bouquet but will not acquire assets aggressively, he said.
Overall capital adequacy stood at 16% as on 30 September 2011 but the core tier-I capital slipped to 9.4%. However, the bank, which already has an enabling resolution from shareholders to raise capital, will not be raising any capital this fiscal because of poor market conditions, Iyer said.

But it is looking to raise Rs300 crore through an issue for its tier-II capital needs this quarter, he said.

In the early afternoon, Yes Bank was trading at around Rs281.70 per share on the Bombay Stock Exchange, 1.09% down from the previous close.

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IDBI Bank’s Q2 net profit rises 20% to Rs516 crore

IDBI Bank announced a net profit of Rs516 crore, up 20% from Rs429 crore in the corresponding quarter in the previous year

IDBI Bank reported a net profit of Rs516 crore for the quarter ended 30 September 2011 against Rs429 crore in the corresponding quarter. This amounts to an increase in net profit by over 20% for the September 2011 quarter compared to the corresponding period last year. Total business (deposits and advances) as of 30 September 2011 stood at Rs3,30,358 crore as against Rs2,84,518 crore as of 30 September 2010, registering a growth of 16%. 
Deposits increased to Rs1,74,441 crore at end- September 2011 from Rs1,54,305 crore at end-September 2010, reflecting a growth of 13%.  Advances also increased by 20% to Rs1,55,917 crore compared to Rs1,30,213 crore as at end-September 2010. The aggregate assets as of 30 September 2011, stood at Rs2,50,392 crore against Rs2,24,889 crore as on 30 September 2010, registering a growth of 11%.

IDBI Bank launched a unique offering, the IDBI Magic Card during this period. The card encompasses the features of a debit card with a credit limit and charges much less than a regular credit card. IDBI Bank is the first bank in India to launch such a novel product.

On the occasion of the International Youth Day, IDBI Bank launched IDBI Bank ‘Being Me’ account. A savings account with an international debit card, designed to financially empower the youth with unique benefits such as free unlimited usage of other banks ATM, no charge for non maintenance of average quarterly balance, preferential rate on educational loans and many more such facilities.
In the early afternoon, IDBI Bank was trading at around Rs105.35 per share on the Bombay Stock Exchange, 0.52% up from the previous close.

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