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BOB: Going strong

Feb 10, 2003

BOB, one of the largest public sector banks, has reported robust December quarter results on the back of a significant improvement in operating margins. Interest income has grown by over 5%, while net profit has shown a considerable 61% jump in for the quarter ended December 2002. For 9mFY03, the growth in net profits is lower at 30% due to a lackluster performance in the 1QFY03.

(Rs m) 3QFY02 3QFY03 Change 9m FY02 9m FY03 Change
Income from Operations 14,519 15,300 5.4% 44,253 45,806 3.5%
Other Income 2,524 3,750 48.6% 6,834 9,235 35.1%
Interest Expenses 10,045 9,836 -2.1% 30,063 30,329 0.9%
Net interest income 4,474 5,464 22.1% 14,190 15,477 9.1%
Other Expenses 3,751 3,905 4.1% 11,671 11,773 0.9%
Operating Profit 723 1,559 115.6% 2,519 3,704 47.0%
Operating Profit Margin (%) 5.0% 10.2%   5.7% 8.1%  
Provisions and Contingencies 1,015 1,565 54.2% 3,401 4,525 33.0%
Profit before Tax 2,231 3,744 67.8% 5,952 8,414 41.4%
Tax 650 1,200 84.6% 1,560 2,700 73.1%
Profit after Tax/(Loss) 1,581 2,544 60.9% 4,392 5,714 30.1%
Net Profit Margin (%) 10.9% 16.6%   9.9% 12.5%  
No. of Shares (m) 294.3 294.3   294.3 294.3  
Diluted Earnings per share* 21.5 34.6   19.8 25.8  
P/E Ratio         5.3  
*(annualised)            

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