BANK OF MAHARASHTRA Announces Quarterly Results (1QFY20); Net Profit Up 107.2%

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BANK OF MAHARASHTRA Announces Quarterly Results (1QFY20); Net Profit Up 107.2%
Thu, 1 Aug

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

BANK OF MAHARASHTRA Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Operating incomeRs m26,40627,75227,726-0.1%5.0%
Other incomeRs m3,4663,8564,1928.7%21.0%
Total revenuesRs m29,87131,60831,9191.0%6.9%
InterestRs m17,82117,75317,7580.0%-0.4%
Gross Profit Rs m8,5859,9999,968-0.3%16.1%
Other expensesRs m7,3478,8437,576-14.3%3.1%
Profit before taxRs m-11,626864-2,623-403.6%
TaxRs m-436140-3,434-2550.8%
Profit after taxRs m-11,19072481112.0%
Gross profit margin %32.536.036.0
Effective tax rate%3.716.2130.9
Net profit margin%-42.42.62.9
* 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 5.0% on a year-on-year (YoY) basis. The interest expended was down by 0.4% YoY during the same period.
  • The bank's operating profit increased by 16.1% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 36.0% in 1QFY20 as against 32.5% in 1QFY19.
  • Other income increased by 21.0% YoY during the quarter.
  • Net profit for the quarter increased by 107.2% YoY. Net profit margins during the quarter increased from -42.4% in 1QFY19 to 2.9% in 1QFY20.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter fell 0.1% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 0.0% QoQ during the same period.
  • The bank's operating profit declined by 0.3% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 36.0% in 1QFY20 as against 36.0% in 4QFY19.
  • Net profit for the quarter increased by 12.0% QoQ, while net profit margins increased from 2.6% in 4QFY19 to 2.9% in 1QFY20.

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 down from Rs 13.4 to Rs 13.0, registering a Loss of Rs 0.4 or around 3.1%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 32,533.3 (down 0.5%). Over the last one year it has moved up from 30,834.9 to 32,533.3, a gain of 1,698 points (up 5.5%).

Overall, the S&P BSE SENSEX is down 1.0% over the year.

Current Valuations

At the current price of Rs 13.0, the price to book value (P/BV) ratio of BANK OF MAHARASHTRA stands at 0.2 times.

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