ANDHRA BANK Announces Quarterly Results (1QFY20); Net Profit Up 109.6%

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Markets will remain closed on 21st October 2019, due to Assembly Elections in Maharashtra.

ANDHRA BANK Announces Quarterly Results (1QFY20); Net Profit Up 109.6%
Mon, 5 Aug

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

ANDHRA BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Operating incomeRs m45,27548,52949,6212.3%9.6%
Other incomeRs m5,6464,6064,7493.1%-15.9%
Total revenuesRs m50,92153,13554,3702.3%6.8%
InterestRs m30,67430,31533,1159.2%8.0%
Gross Profit Rs m14,60118,21516,506-9.4%13.0%
Other expensesRs m8,1709,9389,497-4.4%16.2%
Profit before taxRs m-4,998-12,2361,347
TaxRs m400100832731.6%107.9%
Profit after taxRs m-5,398-12,336516
Gross profit margin %32.337.533.3
Effective tax rate%-8.0-0.861.7
Net profit margin%-11.9-25.41.0
* 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 9.6% on a year-on-year (YoY) basis. The interest expended was up by 8.0% YoY during the same period.
  • The bank's operating profit increased by 13.0% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 33.3% in 1QFY20 as against 32.3% in 1QFY19.
  • Other income declined by 15.9% YoY during the quarter.
  • Net profit for the quarter increased by 109.6% YoY. Net profit margins during the quarter increased from -11.9% in 1QFY19 to 1.0% in 1QFY20.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 2.3% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 9.2% QoQ during the same period.
  • The bank's operating profit declined by 9.4% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 33.3% in 1QFY20 as against 37.5% in 4QFY19.
  • Net profit for the quarter increased by 104.2% QoQ, while net profit margins increased from -25.4% in 4QFY19 to 1.0% in 1QFY20.

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 down from Rs 35.7 to Rs 20.4, registering a Loss of Rs 15.3 or around 42.9%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 31,077.6 (down 2.6%). Over the last one year it has moved down from 31,079.3 to 31,077.6, a gain of 2 points (down 0.0%).

Overall, the S&P BSE SENSEX is down 1.8% over the year.

Current Valuations

At the current price of Rs 20.4, the price to book value (P/BV) ratio of ANDHRA BANK stands at 0.1 times.

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For the quarter ended March 2019, ANDHRA BANK has posted a net profit of Rs 12 bn (up 51.4% YoY). Sales on the other hand came in at Rs 49 bn (up 5.4% YoY). Read on for a complete analysis of ANDHRA BANK's quarterly results.

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