ALLAHABAD BANK Announces Quarterly Results (1QFY19); Net Profit Down 6841.9%

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ALLAHABAD BANK Announces Quarterly Results (1QFY19); Net Profit Down 6841.9%
Thu, 16 Aug

ALLAHABAD BANK has announced its results for the quarter ended June 2018. Here is a detailed performance review of the same:

ALLAHABAD BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-17*
3
Mar-18*
3
Jun-18*
QoQ ChangeYoY Change
Operating incomeRs m41,47937,76845,99521.8%10.9%
Other incomeRs m8,2074,8261,945-59.7%-76.3%
Total revenuesRs m49,68642,59447,94012.6%-3.5%
InterestRs m29,05228,88528,9590.3%-0.3%
Gross Profit Rs m12,4278,88317,03791.8%37.1%
Other expensesRs m8,93112,48010,684-14.4%19.6%
Profit before taxRs m-1,650-46,605-19,330
TaxRs m-1,939-11,509114
Profit after taxRs m288-35,096-19,444-6841.9%
Gross profit margin %30.023.537.0
Effective tax rate%117.524.7-0.6
Net profit margin%0.7-92.9-42.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The bank's operating income (interest earned) during the quarter grew 10.9% on a year-on-year (YoY) basis. The interest expended was down by 0.3% YoY during the same period.
  • The bank's operating profit increased by 37.1% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 37.0% in 1QFY19 as against 30.0% in 1QFY18.
  • Other income declined by 76.3% YoY during the quarter.
  • Net profit for the quarter declined by 6841.9% YoY. Net profit margins during the quarter declined from 0.7% in 1QFY18 to -42.3% in 1QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 21.8% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 0.3% QoQ during the same period.
  • The bank's operating profit increased by 91.8% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 37.0% in 1QFY19 as against 23.5% in 4QFY18.
  • Net profit for the quarter declined by 44.6% QoQ, while net profit margins increased from -92.9% in 4QFY18 to -42.3% in 1QFY19.

To see how ALLAHABAD BANK has performed over the last eight quarters, please visit here.

ALLAHABAD BANK Share Price Performance

Over the last one year, ALLAHABAD BANK share price has moved up from Rs 66.9 to Rs 39.8, registering a Loss of Rs 27.1 or around 40.5%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 31,564.9 (down 0.3%). Over the last one year it has moved up from 27,572.8 to 31,564.9, a gain of 3,992 points (up 14.5%).

Overall, the S&P BSE SENSEX is up 20.1% over the year.

Current Valuations

At the current price of Rs 39.8, the price to book value (P/BV) ratio of ALLAHABAD BANK stands at 0.2 times.

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Jan 21, 2020 03:35 PM

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