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

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ALLAHABAD BANK Announces Quarterly Results (4QFY19); Net Profit Down 9.2%
Mon, 13 May

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

ALLAHABAD BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Operating incomeRs m37,76842,28340,370-4.5%6.9%
Other incomeRs m4,8265,2865,6597.0%17.3%
Total revenuesRs m42,59447,56946,029-3.2%8.1%
InterestRs m28,88528,29627,790-1.8%-3.8%
Gross Profit Rs m8,88313,98712,580-10.1%41.6%
Other expensesRs m12,48011,58311,8962.7%-4.7%
Profit before taxRs m-46,605-7,264-46,494
TaxRs m-11,50964-8,154-12761.0%
Profit after taxRs m-35,096-7,328-38,341
Gross profit margin %23.533.131.2
Effective tax rate%24.7-0.917.5
Net profit margin%-92.9-17.3-95.0
* 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 grew 6.9% on a year-on-year (YoY) basis. The interest expended was down by 3.8% YoY during the same period.
  • The bank's operating profit increased by 41.6% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 31.2% in 4QFY19 as against 23.5% in 4QFY18.
  • Other income increased by 17.3% YoY during the quarter.
  • Net profit for the quarter declined by 9.2% YoY. Net profit margins during the quarter declined from -92.9% in 4QFY18 to -95.0% in 4QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter fell 4.5% on a quarter-on-quarter (QoQ) basis. The interest expended was down by 1.8% QoQ during the same period.
  • The bank's operating profit declined by 10.1% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 31.2% in 4QFY19 as against 33.1% in 3QFY18.
  • Net profit for the quarter declined by 423.2% QoQ, while net profit margins declined from -17.3% in 3QFY18 to -95.0% in 4QFY19.

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 45.7 to Rs 42.7, registering a Loss of Rs 3.0 or around 6.5%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 32,400.1 (up 0.0%). Over the last one year it has moved up from 29,688.9 to 32,400.1, a gain of 2,711 points (up 9.1%).

Overall, the S&P BSE SENSEX is up 6.5% over the year.

Current Valuations

At the current price of Rs 42.7, the price to book value (P/BV) ratio of ALLAHABAD BANK stands at 0.2 times.

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