BANDHAN BANK Announces Quarterly Results (1QFY22); Net Profit Down 32.1%

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BANDHAN BANK Announces Quarterly Results (1QFY22); Net Profit Down 32.1%
Tue, 3 Aug

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

BANDHAN BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-20*
3
Mar-21*
3
Jun-21*
QoQ ChangeYoY Change
Operating incomeRs m30,18130,00734,10013.6%13.0%
Other incomeRs m3,8687,8735,334-32.3%37.9%
Total revenuesRs m34,04837,87939,4344.1%15.8%
InterestRs m12,06612,43712,9594.2%7.4%
Gross Profit Rs m18,11517,57021,14120.3%16.7%
Other expensesRs m6,1418,1487,763-4.7%26.4%
Profit before taxRs m7,3511,3524,962267.1%-32.5%
TaxRs m1,8533211,231283.1%-33.6%
Profit after taxRs m5,4981,0303,731262.1%-32.1%
Gross profit margin %60.058.662.0
Effective tax rate%25.223.824.8
Net profit margin%18.23.410.9
* 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 13.0% on a year-on-year (YoY) basis. The interest expended was up by 7.4% YoY during the same period.
  • The bank's operating profit increased by 16.7% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 62.0% in 1QFY22 as against 60.0% in 1QFY21.
  • Other income increased by 37.9% YoY during the quarter.
  • Net profit for the quarter declined by 32.1% YoY. Net profit margins during the quarter declined from 18.2% in 1QFY21 to 10.9% in 1QFY22.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 13.6% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 4.2% QoQ during the same period.
  • The bank's operating profit increased by 20.3% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 62.0% in 1QFY22 as against 58.6% in 4QFY21.
  • Net profit for the quarter increased by 262.1% QoQ, while net profit margins increased from 3.4% in 4QFY21 to 10.9% in 1QFY22.

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

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BANDHAN BANK Share Price Performance

Over the last one year, BANDHAN BANK share price has moved down from Rs 308.7 to Rs 300.6, registering a Loss of Rs 8.1 or around 2.6%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 39,973.6 (up 1.6%). Over the last one year it has moved up from 23,927.0 to 39,973.6, a gain of 16,047 points (up 67.1%).

Overall, the S&P BSE SENSEX is up 42.6% over the year.

Current Valuations

At the current price of Rs 300.6, the price to earnings (P/E) ratio of BANDHAN BANK stands at 23.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.8 times.

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For the quarter ended December 2020, BANDHAN BANK has posted a net profit of Rs 6 bn (down 13.5% YoY). Sales on the other hand came in at Rs 33 bn (up 21.7% YoY). Read on for a complete analysis of BANDHAN BANK's quarterly results.

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