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BANK OF MAHARASHTRA Announces Quarterly Results (3QFY19); Net Profit Down 530.8%

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Markets will remain closed on 19th April, 2019 on account of Good Friday.

BANK OF MAHARASHTRA Announces Quarterly Results (3QFY19); Net Profit Down 530.8%
Mon, 28 Jan

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

BANK OF MAHARASHTRA Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Operating incomeRs m27,24427,88226,457-5.1%-2.9%
Other incomeRs m2,7024,0464,1071.5%52.0%
Total revenuesRs m29,94631,92830,564-4.3%2.1%
InterestRs m18,71817,85317,735-0.7%-5.3%
Gross Profit Rs m8,52610,0298,722-13.0%2.3%
Other expensesRs m7,0346,1318,51138.8%21.0%
Profit before taxRs m-10,547-634-39,898
TaxRs m-4,580-904-2,255
Profit after taxRs m-5,967270-37,643-14041.7%
Gross profit margin %31.336.033.0
Effective tax rate%43.4142.65.7
Net profit margin%-21.91.0-142.3
* 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 2.9% on a year-on-year (YoY) basis. The interest expended was down by 5.3% YoY during the same period.
  • The bank's operating profit increased by 2.3% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 33.0% in 3QFY19 as against 31.3% in 3QFY18.
  • Other income increased by 52.0% YoY during the quarter.
  • Net profit for the quarter declined by 530.8% YoY. Net profit margins during the quarter declined from -21.9% in 3QFY18 to -142.3% in 3QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter fell 5.1% on a quarter-on-quarter (QoQ) basis. The interest expended was down by 0.7% QoQ during the same period.
  • The bank's operating profit declined by 13.0% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 33.0% in 3QFY19 as against 36.0% in 2QFY18.
  • Net profit for the quarter declined by 14041.7% QoQ, while net profit margins declined from 1.0% in 2QFY18 to -142.3% in 3QFY19.

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 20.7 to Rs 13.8, registering a Loss of Rs 6.9 or around 33.2%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 30,040.9 (down 1.1%). Over the last one year it has moved down from 31,082.1 to 30,040.9, a gain of 1,041 points (down 3.3%).

Overall, the S&P BSE SENSEX is down 0.6% over the year.

Current Valuations

At the current price of Rs 13.8, the price to book value (P/BV) ratio of BANK OF MAHARASHTRA stands at 0.1 times.

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