Global Trust Bank's profit rises by 76% - Views on News from Equitymaster

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

Global Trust Bank's profit rises by 76%

Jul 14, 2000

Global Trust Bank has reported a YoY 51% jump in interest income in 1QFY01 to Rs 2 bn. The profit before tax of the bank increased by 100% to Rs 615 m. However due to higher provision for contingencies and tax, net profit of the bank witnessed an increase of 76% and profit margins declined to 12.2% (1QFY00 - 15.5%)

(Rs m) 1QFY00 1QFY01 Change
Interest Income 1,361 2,049 50.6%
Other Income 465 545 17.3%
Interest Expenditure 1,229 1,525 24.1%
Operating Profit (EBDIT) 132 524 298.0%
Operating Profit Margin (%) 9.7% 25.6%  
Other Expenditure 183 345 88.6%
Depreciation 106 109 3.1%
Profit before Tax 308 615 99.9%
Provisions & Contingencies 32 112 244.1%
Tax 65 132 104.2%
Profit after Tax/(Loss) 211 372 76.4%
Net profit margin (%) 15.5% 12.7%  
No. of Shares (eoy) (m) 104.0 121.4  
Diluted number of shares 121.4 121.4  
Diluted Earnings per share* 6.9 12.2  
*(annualised)      

During the first quarter the bank's deposits grew by 82% and advances increased by 55%. The bank's capital adequacy ratio at 13.8% is comparatively higher than the 9% stipulated by RBI. Also it has maintained its non performing asset(NPAs) ratio to 0.9% of total advances.

At the current market price of Rs 60.9, Global trust Bank is trading at a PER of 5 times its 1QFY01 annualised earnings. The bank has a Price/Book Value ratio of 1.3 times.


Equitymaster requests your view! Post a comment on "Global Trust Bank's profit rises by 76%". Click here!

  

More Views on News

How the YES Bank Collapse Unfolded - 10 Points (Sector Info)

Mar 9, 2020

A timeline of how YES Bank went from a stock market darling to a pariah.

Today's Stock Market Crash: 10 Points (Sector Info)

Mar 6, 2020

Top factors that dragged the markets lower today.

More Views on News

Most Popular

How the 8-Year Cycle Can Help Identify Multibaggers (Fast Profits Daily)

Sep 11, 2020

This is how you can apply the greed and fear cycle in the market to pick stocks.

Why We Picked This Small-cap Stock for Our Hidden Treasure Subscribers (Profit Hunter)

Sep 17, 2020

This leading household brand will profit big time in a post covid world.

This Could Be the Best September for Auto Stocks (Profit Hunter)

Sep 11, 2020

Here's why I think this month could be a great for auto stocks.

What Do the Charts Say About Buying Smallcaps Now? (Fast Profits Daily)

Sep 18, 2020

Everyone seems to be excited about buying smallcaps now...but is it the right thing to do? What do the charts tell us? Find out in this video...

More

Covid-19 Proof
Multibagger Stocks

Covid19 Proof Multibaggers
Get this special report, authored by Equitymaster's top analysts now!
We will never sell or rent your email id.
Please read our Terms

TRACK GLOBAL TR. BANK

  • Track your investment in GLOBAL TR. BANK with Equitymaster's Portfolio Tracker. Set live price alerts, get research alerts and more. Get access now...
  • Add To MyStocks

MARKET STATS