BANK OF MAHARASHTRA Announces Quarterly Results (1QFY19); Net Profit Up 171.5%

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BANK OF MAHARASHTRA Announces Quarterly Results (1QFY19); Net Profit Up 171.5%
Mon, 6 Aug

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

BANK OF MAHARASHTRA Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-17*
3
Mar-18*
3
Jun-18*
QoQ ChangeYoY Change
Operating incomeRs m27,44926,92426,406-1.9%-3.8%
Other incomeRs m4,6504,0213,466-13.8%-25.5%
Total revenuesRs m32,09830,94529,871-3.5%-6.9%
InterestRs m20,52118,11217,821-1.6%-13.2%
Gross Profit Rs m6,9288,8128,585-2.6%23.9%
Other expensesRs m6,2437,3657,347-0.2%17.7%
Profit before taxRs m-6,181-14,939-11,626
TaxRs m-2,059-13,803-436
Profit after taxRs m-4,122-1,135-11,190
Gross profit margin %25.232.732.5
Effective tax rate%33.392.43.7
Net profit margin%-15.0-4.2-42.4
* 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 fell 3.8% on a year-on-year (YoY) basis. The interest expended was down by 13.2% YoY during the same period.
  • The bank's operating profit increased by 23.9% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 32.5% in 1QFY19 as against 25.2% in 1QFY18.
  • Other income declined by 25.5% YoY during the quarter.
  • Net profit for the quarter increased by 171.5% YoY. Net profit margins during the quarter declined from -15.0% in 1QFY18 to -42.4% in 1QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter fell 1.9% on a quarter-on-quarter (QoQ) basis. The interest expended was down by 1.6% QoQ during the same period.
  • The bank's operating profit declined by 2.6% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 32.5% in 1QFY19 as against 32.7% in 4QFY18.
  • Net profit for the quarter increased by 885.8% QoQ, while net profit margins declined from -4.2% in 4QFY18 to -42.4% in 1QFY19.

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

BANK OF MAHARASHTRA Share Price Performance

Over the last one year, BANK OF MAHARASHTRA share price has moved up from Rs 27.8 to Rs 13.1, registering a Loss of Rs 14.7 or around 52.8%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 31,432.3 (up 1.1%). Over the last one year it has moved up from 28,074.6 to 31,432.3, a gain of 3,358 points (up 12.0%).

Overall, the S&P BSE SENSEX is up 0.5% over the year.

Current Valuations

At the current price of Rs 13.1, the price to book value (P/BV) ratio of BANK OF MAHARASHTRA stands at 0.2 times.

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Jan 21, 2020 03:35 PM

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