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ANDHRA BANK Announces Quarterly Results (2QFY19); Net Profit Down 12.7%

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ANDHRA BANK Announces Quarterly Results (2QFY19); Net Profit Down 12.7%
Mon, 5 Nov

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

ANDHRA BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Operating incomeRs m44,17545,27547,5525.0%7.6%
Other incomeRs m5,8795,6464,942-12.5%-15.9%
Total revenuesRs m50,05350,92152,4933.1%4.9%
InterestRs m29,16330,67430,268-1.3%3.8%
Gross Profit Rs m15,01214,60117,28418.4%15.1%
Other expensesRs m7,9418,1709,24913.2%16.5%
Profit before taxRs m-3,731-4,998-2,641
TaxRs m1204001,700325.0%1316.7%
Profit after taxRs m-3,851-5,398-4,341
Gross profit margin %34.032.336.3
Effective tax rate%-3.2-8.0-64.4
Net profit margin%-8.7-11.9-9.1
* 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 7.6% on a year-on-year (YoY) basis. The interest expended was up by 3.8% YoY during the same period.
  • The bank's operating profit increased by 15.1% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 36.3% in 2QFY19 as against 34.0% in 2QFY18.
  • Other income declined by 15.9% YoY during the quarter.
  • Net profit for the quarter declined by 12.7% YoY. Net profit margins during the quarter declined from -8.7% in 2QFY18 to -9.1% in 2QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 5.0% on a quarter-on-quarter (QoQ) basis. The interest expended was down by 1.3% QoQ during the same period.
  • The bank's operating profit increased by 18.4% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 36.3% in 2QFY19 as against 32.3% in 1QFY18.
  • Net profit for the quarter increased by 19.6% QoQ, while net profit margins increased from -11.9% in 1QFY18 to -9.1% in 2QFY19.

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 66.2 to Rs 28.5, registering a Loss of Rs 37.7 or around 56.9%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 28,959.6 (down 0.2%). Over the last one year it has moved down from 29,092.1 to 28,959.6, a gain of 133 points (down 0.5%).

Overall, the S&P BSE SENSEX is up 3.8% over the year.

Current Valuations

At the current price of Rs 28.5, the price to book value (P/BV) ratio of ANDHRA BANK stands at 0.2 times.

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