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

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ALLAHABAD BANK Announces Quarterly Results (3QFY19); Net Profit Up 42.0%
Wed, 13 Feb

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

ALLAHABAD BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Operating incomeRs m42,43839,99642,2835.7%-0.4%
Other incomeRs m5,1154,1125,28628.6%3.3%
Total revenuesRs m47,55344,10747,5697.8%0.0%
InterestRs m28,96928,49128,296-0.7%-2.3%
Gross Profit Rs m13,46911,50513,98721.6%3.8%
Other expensesRs m9,36210,27711,58312.7%23.7%
Profit before taxRs m-14,913-18,221-7,264
TaxRs m-2,275664906.3%
Profit after taxRs m-12,638-18,227-7,328
Gross profit margin %31.728.833.1
Effective tax rate%15.30.0-0.9
Net profit margin%-29.8-45.6-17.3
* 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 fell 0.4% on a year-on-year (YoY) basis. The interest expended was down by 2.3% YoY during the same period.
  • The bank's operating profit increased by 3.8% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 33.1% in 3QFY19 as against 31.7% in 3QFY18.
  • Other income increased by 3.3% YoY during the quarter.
  • Net profit for the quarter increased by 42.0% YoY. Net profit margins during the quarter increased from -29.8% in 3QFY18 to -17.3% in 3QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 5.7% on a quarter-on-quarter (QoQ) basis. The interest expended was down by 0.7% 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 33.1% in 3QFY19 as against 28.8% in 2QFY18.
  • Net profit for the quarter increased by 59.8% QoQ, while net profit margins increased from -45.6% in 2QFY18 to -17.3% in 3QFY19.

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 61.0 to Rs 39.3, registering a Loss of Rs 21.8 or around 35.7%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 30,137.9 (down 0.1%). Over the last one year it has moved up from 29,080.0 to 30,137.9, a gain of 1,058 points (up 3.6%).

Overall, the S&P BSE SENSEX is up 5.6% over the year.

Current Valuations

At the current price of Rs 39.3, the price to book value (P/BV) ratio of ALLAHABAD BANK stands at 0.2 times.

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