BANK OF MAHARASHTRA Announces Quarterly Results (4QFY21); Net Profit Up 186.9%

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BANK OF MAHARASHTRA Announces Quarterly Results (4QFY21); Net Profit Up 186.9%
Thu, 8 Jul

BANK OF MAHARASHTRA has announced its results for the quarter ended March 2021. Here is a detailed performance review of the same:

BANK OF MAHARASHTRA Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-20*
3
Dec-20*
3
Mar-21*
QoQ ChangeYoY Change
Operating incomeRs m28,06330,06930,9773.0%10.4%
Other incomeRs m3,9225,70512,357116.6%215.1%
Total revenuesRs m31,98535,77443,33421.1%35.5%
InterestRs m17,83617,00517,1440.8%-3.9%
Gross Profit Rs m10,22813,06413,8335.9%35.2%
Other expensesRs m8,1989,74310,78910.7%31.6%
Profit before taxRs m-3,1504,0492,293-43.4%
TaxRs m-3,7262,504640-74.4%
Profit after taxRs m5761,5451,6527.0%186.9%
Gross profit margin %36.443.444.7
Effective tax rate%118.361.827.9
Net profit margin%2.15.15.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster


Year-on-Year Performance:
  • The bank's operating income (interest earned) during the quarter grew 10.4% on a year-on-year (YoY) basis. The interest expended was down by 3.9% YoY during the same period.
  • The bank's operating profit increased by 35.2% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 44.7% in 4QFY21 as against 36.4% in 4QFY20.
  • Other income increased by 215.1% YoY during the quarter.
  • Net profit for the quarter increased by 186.9% YoY. Net profit margins during the quarter increased from 2.1% in 4QFY20 to 5.3% in 4QFY21.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 3.0% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 0.8% QoQ during the same period.
  • The bank's operating profit increased by 5.9% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 44.7% in 4QFY21 as against 43.4% in 3QFY20.
  • Net profit for the quarter increased by 7.0% QoQ, while net profit margins increased from 5.1% in 3QFY20 to 5.3% in 4QFY21.

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 up from Rs 11.5 to Rs 25.0, registering a Gain of Rs 13.4 or around 116.2%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 39,854.4 (down 1.5%). Over the last one year it has moved up from 25,547.9 to 39,854.4, a gain of 14,306 points (up 56.0%).

Overall, the S&P BSE SENSEX is up 43.9% over the year.

Current Valuations

At the current price of Rs 25.0, the price to earnings (P/E) ratio of BANK OF MAHARASHTRA stands at 29.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.3 times.

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Oct 27, 2021 03:24 PM

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