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ANDHRA BANK Announces Quarterly Results (1QFY19); Net Profit Down 1435.6%

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ANDHRA BANK Announces Quarterly Results (1QFY19); Net Profit Down 1435.6%
Mon, 13 Aug

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

ANDHRA BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-17*
3
Mar-18*
3
Jun-18*
QoQ ChangeYoY Change
Operating incomeRs m44,02046,05945,275-1.7%2.9%
Other incomeRs m7,5334,8685,64616.0%-25.0%
Total revenuesRs m51,55250,92650,9210.0%-1.2%
InterestRs m29,61028,85430,6746.3%3.6%
Gross Profit Rs m14,41017,20514,601-15.1%1.3%
Other expensesRs m8,2478,4108,170-2.8%-0.9%
Profit before taxRs m684-40,631-4,998-830.5%
TaxRs m280-15,27340042.9%
Profit after taxRs m404-25,358-5,398-1435.6%
Gross profit margin %32.737.432.3
Effective tax rate%40.937.6-8.0
Net profit margin%0.9-55.1-11.9
* 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 2.9% on a year-on-year (YoY) basis. The interest expended was up by 3.6% YoY during the same period.
  • The bank's operating profit increased by 1.3% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 32.3% in 1QFY19 as against 32.7% in 1QFY18.
  • Other income declined by 25.0% YoY during the quarter.
  • Net profit for the quarter declined by 1435.6% YoY. Net profit margins during the quarter declined from 0.9% in 1QFY18 to -11.9% in 1QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter fell 1.7% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 6.3% QoQ during the same period.
  • The bank's operating profit declined by 15.1% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 32.3% in 1QFY19 as against 37.4% in 4QFY18.
  • Net profit for the quarter declined by 78.7% QoQ, while net profit margins increased from -55.1% in 4QFY18 to -11.9% in 1QFY19.

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

ANDHRA BANK Share Price Performance

Over the last one year, ANDHRA BANK share price has moved up from Rs 49.8 to Rs 32.9, registering a Loss of Rs 16.9 or around 34.0%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 31,370.4 (down 1.2%). Over the last one year it has moved up from 27,098.0 to 31,370.4, a gain of 4,272 points (up 15.8%).

Overall, the S&P BSE SENSEX is up 19.4% over the year.

Current Valuations

At the current price of Rs 32.9, the price to book value (P/BV) ratio of ANDHRA BANK stands at 0.2 times.

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