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) |