BANK OF MAHARASHTRA Announces Quarterly Results (3QFY20); Net Profit Up 103.6%

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BANK OF MAHARASHTRA Announces Quarterly Results (3QFY20); Net Profit Up 103.6%
Wed, 22 Jan

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

BANK OF MAHARASHTRA Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-18*
3
Sep-19*
3
Dec-19*
QoQ ChangeYoY Change
Operating incomeRs m26,45729,00230,1634.0%14.0%
Other incomeRs m4,1073,9574,42311.8%7.7%
Total revenuesRs m30,56432,95934,5864.9%13.2%
InterestRs m17,73518,26918,3020.2%3.2%
Gross Profit Rs m8,72210,73411,86110.5%36.0%
Other expensesRs m8,5117,1737,8679.7%-7.6%
Profit before taxRs m-39,8983,926-757-119.3%
TaxRs m-2,2552,779-2,109-175.9%
Profit after taxRs m-37,6431,1471,35318.0%
Gross profit margin %33.037.039.3
Effective tax rate%5.770.8278.8
Net profit margin%-142.34.04.5
* 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 14.0% on a year-on-year (YoY) basis. The interest expended was up by 3.2% YoY during the same period.
  • The bank's operating profit increased by 36.0% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 39.3% in 3QFY20 as against 33.0% in 3QFY19.
  • Other income increased by 7.7% YoY during the quarter.
  • Net profit for the quarter increased by 103.6% YoY. Net profit margins during the quarter increased from -142.3% in 3QFY19 to 4.5% in 3QFY20.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 4.0% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 0.2% QoQ during the same period.
  • The bank's operating profit increased by 10.5% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 39.3% in 3QFY20 as against 37.0% in 2QFY19.
  • Net profit for the quarter increased by 18.0% QoQ, while net profit margins increased from 4.0% in 2QFY19 to 4.5% in 3QFY20.

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

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BANK OF MAHARASHTRA Share Price Performance

Over the last one year,BANK OF MAHARASHTRA share price has moved down from Rs 14.2 to Rs 13.8, registering a Loss of Rs 0.5 or around 3.2%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 35,308.1 (up 0.0%). Over the last one year it has moved up from 30,749.8 to 35,308.1, a gain of 4,558 points (up 14.8%).

Overall, the S&P BSE SENSEX is up 13.2% over the year.

Current Valuations

At the current price of Rs 13.8, the price to earnings (P/E) ratio of BANK OF MAHARASHTRA stands at 3.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.2 times.

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