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ANDHRA BANK Announces Quarterly Results (3QFY19); Net Profit Up 65.0%

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ANDHRA BANK Announces Quarterly Results (3QFY19); Net Profit Up 65.0%
Fri, 15 Feb

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

ANDHRA BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Operating incomeRs m45,49347,55247,9670.9%5.4%
Other incomeRs m5,4424,9425,2576.4%-3.4%
Total revenuesRs m50,93452,49353,2231.4%4.5%
InterestRs m28,77130,26830,9842.4%7.7%
Gross Profit Rs m16,72217,28416,983-1.7%1.6%
Other expensesRs m8,8619,2499,9447.5%12.2%
Profit before taxRs m-10,930-2,641-4,236
TaxRs m5,6101,7001,550-8.8%-72.4%
Profit after taxRs m-16,540-4,341-5,786
Gross profit margin %36.836.335.4
Effective tax rate%-51.3-64.4-36.6
Net profit margin%-36.4-9.1-12.1
* 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 5.4% on a year-on-year (YoY) basis. The interest expended was up by 7.7% YoY during the same period.
  • The bank's operating profit increased by 1.6% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 35.4% in 3QFY19 as against 36.8% in 3QFY18.
  • Other income declined by 3.4% YoY during the quarter.
  • Net profit for the quarter increased by 65.0% YoY. Net profit margins during the quarter increased from -36.4% in 3QFY18 to -12.1% in 3QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 0.9% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 2.4% QoQ during the same period.
  • The bank's operating profit declined by 1.7% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 35.4% in 3QFY19 as against 36.3% in 2QFY18.
  • Net profit for the quarter declined by 33.3% QoQ, while net profit margins declined from -9.1% in 2QFY18 to -12.1% in 3QFY19.

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 47.0 to Rs 23.1, registering a Loss of Rs 23.9 or around 50.9%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 29,965.7 (down 0.7%). Over the last one year it has moved up from 28,732.4 to 29,965.7, a gain of 1,233 points (up 4.3%).

Overall, the S&P BSE SENSEX is up 4.3% over the year.

Current Valuations

At the current price of Rs 23.1, the price to book value (P/BV) ratio of ANDHRA BANK stands at 0.1 times.

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