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Posted by :
vuppala1948
The final EPS of BOI for the latest Qtr is 6.15 compared to 11.11 for last Qtr. On the face of it, it looks a dismal performance. True.
But, the one and only reason we find for this, after thorough analysis, is the increase of Provisions from 223 Cr in last Qtr to 602 Cr in current QTR.
Total income has grown from 5024 Cr to 5165 Cr. Total Expenditure has just marginally increased from 3930 cr to 3959 Cr.
Actually, Operating Profits has increased SIGNIFICANTLY from 1094 cr in last qtr to 1206 Cr in the current QTR.
The Higher provision of 602 Cr in current Qtr compared to just 223 Cr in last Qtr has brought down EPS to 6.16 from 11.13 in last Qtr.
The higher provision is generally a one time affair - presumably due to the impending hike in Salaries - and will not recur in subsequent Qtrs.
If this provision is taken out of recurring, BOI results are DEFINITELY much better than earlier Qtrs.
At the operating level, there is a significant increase in profits from 1094 cr to 1206 Cr.So, BOI is performing absolutely well - and not dismally.
Probably, BOI has been highly prudent to make provision for the higher amount in this Qtr itself, but the actual expenditure from such provisions will be spread throughout the 12 months (or even earlier years)and the final EPS will remain unaffected.
I feel, BOI will increase its EPS significantly in coming QTRs - since such provision will not be there.The annual EPS for current year should also be significantly HIGHER - and not lower , nor DISMAL - since, income has increased significantly and will increase further and expenditure is in check.
Actually, BOI has been selected for the BEST LEADER AWARD among Public sector Banks - for 2009, considering many parameters. I feel, it deserves this - and the depressing of EPS in current Qtr is of little consequence.
Market Reaction is of course, as usual, a knee Jerk reaction,without analysis. Add to it, the current reaction and you have a DISMAL MOOD to beat down any scrip without rhyme or reason. BOI has provided a reason - the lower EPS - and that is enough for a market madly selling at any price.
Market reaction in India is becoming a JOKE - nothing else....
sell
Posted by :
NAUGHTY007buy on dips on tuesday/wed below 250 specially if USA is down on monday -also as carnage of 100 pts in nifty maybe seen-what a poor results as compared to other psu banks-shows something is seriously wrong-sell sell...
BANK of INDIA - BUY @300
Posted by :
moneyconSome minor correction expected on this stock. Only buy on the level of @300-305. Not looking major support. But in Banking Sector some resistance mood....
disasterous results
Posted by :
samprasbank of india has given a disasterous result compared to PNM Bo baroda etc.surprising to see this for 3rd straight quarter.even the mutual fund holdins r not looking great.what does one do...
BANK OF INDIA Q2 Numbers Out
Posted by : sahhyAre the results so bad, that the stock has tanked so much?...
BANK OF INDIA Q2 Numbers Out
Posted by : pms.swastika
BANK OF INDIA Q2 Numbers Out:
Net Profit at Rs. 323.00 Cr Vs Rs. 763.00 Cr (-57.67%) (YoY)
NII at Rs. 1409.00 Cr Vs Rs. 1363.00 Cr (+3.37%) (YoY)
Regards
Swastika PMS...
NSE Announcements on Bank of India
Posted by : MMB MessengerBank of India has informed the Exchange regarding the standalone Results for the half year ended on 30-SEP-2009 as follows: Interest earned of Rs. 886671 lacs for the half year ending on 30-SEP-2009 against Rs. 751109 lacs for the half year ending on 30-SEP-2008. Interest expended of Rs. 615721 lacs for the half year ending on 30-SEP-2009 against Rs. 496719 lacs for the half year ending on 30-SEP-2008. Net Profit / (Loss) of Rs. 90766 lacs for the half year ending on 30-SEP-2009 against Rs. 132481 lacs for the half year ending on 30-SEP-2008....
NSE Announcements on Bank of India
Posted by : MMB MessengerBank of India has informed the Exchange regarding the standalone Results for the quarter ended on 30-SEP-2009 as follows: Interest earned of Rs. 448899 lacs for the quarter ending on 30-SEP-2009 against Rs. 396277 lacs for the quarter ending on 30-SEP-2008. Interest expended of Rs. 308009 lacs for the quarter ending on 30-SEP-2009 against Rs. 259964 lacs for the quarter ending on 30-SEP-2008. Net Profit / (Loss) of Rs. 32334 lacs for the quarter ending on 30-SEP-2009 against Rs. 76286 lacs for the quarter ending on 30-SEP-2008....
BSE Announcements on Bank of India
Posted by : MMB Messenger
Bank of India has announced the following Unaudited results for the quarter ended September 30, 2009:
The Bank has posted a net profit of Rs 3233.40 million for the quarter ended September 30, 2009 as compared to Rs 7628.60 million for the quarter ended September 30, 2008. Total Income has increased from Rs 46122.70 million for the quarter ended September 30, 2008 to Rs 51649.60 million for the quarter ended September 30, 2009. ...
tax payments
Posted by : thatipalliwhat is the best price to enter boi or can i short at 325 level and what price to cover up. please suggest me....
tax payments
Posted by : thatipalliwhat is the right price to enter boi. please suggest....
tax payments
Posted by : gupta5223the fair price for a psb at current market philosophy and valuaion seems to be in the range of 4-8 and price to adjusted book value 1.0 to 1.5. i feel that it is very low but that seems to be the market thinking with which one cannot fight at present. on the other hand private banks are quoting at 11-30 times eps and price to adjusted book value of 2-4. in my view allhabad bank seems to be best bet in banking sector...
tax payments
Posted by : thatipalliDear Gupta, I need to understand how the price will be calulated based on EPS so i can trade accordingly. kindly help me out....
tax payments
Posted by : gupta5223i had written to bank of india head of share department seeking clarification on this matter of advance tax. he has promptly replied and i am stating in vertibum THIS IS TO INFORM YOU THAT THE ARTICLE PUBLISHED IN ECONOMIC TIMES IS THE CREATION OF THE NEWSPAPER. THE Bnk do not take the responsibilty of what is written there. this IS TO CLARIFY THAT THE FIGURE OF ADVANCE TAX MENTIONED THERE IS FOR THE PAST 6 MONTHS AND NOT FOR THE QUARTER. AS PER POLICY BANK DO NOT RESPOND TO ANY MEDIA, NEWS ETC . THE NEWSPAPERS MUST BE CAREFUL IN WRITING PRICE SENSITIVE INFO AND MUSR FIRST VERIFY. I ALSO COMMEND BANK OF INDIA FOR THE QUICK CLArification which is sen in singapore where i reside having worked in leading mncs in india and singapore. i will now analyse the impact of this info for the readers. the tax of 5000 m will be 45%of total tax payments as first instalment of june 09 is 15% and sep 09 , 30%. if 5000m is 45%, full year will be 11111m , about the same as last year when tax provision in books was 11571m and pat was 30073 m giving an eps of 53, tax % on pbt last year was27.8%. in june 09 q tax provision was 2859m , 33% of pbt. if we apply this june 09 %, then pat for 2009-10 willbe about 22589m giving an eps of 43 which is against last year of 57. (please see that the correct eps for last year is 57 and not 53 stated herein above. . on this basis , the current price seems to be high and may come down once sep 09 results are announced. ...
BSE Announcements on Bank of India
Posted by : MMB MessengerBank of India has informed BSE that a meeting of the Board of Directors of the Bank will be held on October 29, 2009, inter-alia, to consider and approve, Unaudited Reviewed Financial Results of the Bank for the quarter and half year ended September 30, 2009 (Q2). ...
