ALLAHABAD BANK Announces Quarterly Results (1QFY20); Net Profit Up 106.6%

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ALLAHABAD BANK Announces Quarterly Results (1QFY20); Net Profit Up 106.6%
Thu, 1 Aug

ALLAHABAD BANK has announced its results for the quarter ended June 2019. Here is a detailed performance review of the same:

ALLAHABAD BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Operating incomeRs m45,99540,37043,2317.1%-6.0%
Other incomeRs m1,9455,6594,244-25.0%118.1%
Total revenuesRs m47,94046,02947,4753.1%-1.0%
InterestRs m28,95927,79027,9300.5%-3.6%
Gross Profit Rs m17,03712,58015,30121.6%-10.2%
Other expensesRs m10,68411,89610,949-8.0%2.5%
Profit before taxRs m-19,330-46,494-1,493
TaxRs m114-8,154-2,773-2540.6%
Profit after taxRs m-19,444-38,3411,280
Gross profit margin %37.031.235.4
Effective tax rate%-0.617.5185.8
Net profit margin%-42.3-95.03.0
* 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 fell 6.0% on a year-on-year (YoY) basis. The interest expended was down by 3.6% YoY during the same period.
  • The bank's operating profit declined by 10.2% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 35.4% in 1QFY20 as against 37.0% in 1QFY19.
  • Other income increased by 118.1% YoY during the quarter.
  • Net profit for the quarter increased by 106.6% YoY. Net profit margins during the quarter increased from -42.3% in 1QFY19 to 3.0% in 1QFY20.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 7.1% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 0.5% QoQ during the same period.
  • The bank's operating profit increased by 21.6% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 35.4% in 1QFY20 as against 31.2% in 4QFY19.
  • Net profit for the quarter increased by 103.3% QoQ, while net profit margins increased from -95.0% in 4QFY19 to 3.0% in 1QFY20.

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 down from Rs 45.8 to Rs 37.6, registering a Loss of Rs 8.3 or around 18.0%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 32,532.7 (down 0.5%). Over the last one year it has moved up from 30,834.9 to 32,532.7, a gain of 1,698 points (up 5.5%).

Overall, the S&P BSE SENSEX is down 1.0% over the year.

Current Valuations

At the current price of Rs 37.6, the price to book value (P/BV) ratio of ALLAHABAD BANK stands at 0.2 times.

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ALLAHABAD BANK Announces Quarterly Results (4QFY19); Net Profit Down 9.2% (Quarterly Result Update)

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For the quarter ended March 2019, ALLAHABAD BANK has posted a net profit of Rs 38 bn (down 9.2% YoY). Sales on the other hand came in at Rs 40 bn (up 6.9% YoY). Read on for a complete analysis of ALLAHABAD BANK's quarterly results.

ALLAHABAD BANK Announces Quarterly Results (3QFY19); Net Profit Up 42.0% (Quarterly Result Update)

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