BANDHAN BANK Announces Quarterly Results (2QFY21); Net Profit Down 5.3%

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BANDHAN BANK Announces Quarterly Results (2QFY21); Net Profit Down 5.3%
Wed, 4 Nov

BANDHAN BANK has announced its results for the quarter ended September 2020. Here is a detailed performance review of the same:

BANDHAN BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-19*
3
Jun-20*
3
Sep-20*
QoQ ChangeYoY Change
Operating incomeRs m26,90330,18131,9765.9%18.9%
Other incomeRs m3,6033,8683,818-1.3%6.0%
Total revenuesRs m30,50534,04835,7945.1%17.3%
InterestRs m11,61212,06612,7455.6%9.8%
Gross Profit Rs m15,29018,11519,2316.2%25.8%
Other expensesRs m5,8246,1416,77310.3%16.3%
Profit before taxRs m11,6147,35112,33067.7%6.2%
TaxRs m1,8961,8533,13068.9%65.1%
Profit after taxRs m9,7185,4989,20067.3%-5.3%
Gross profit margin %56.860.060.1
Effective tax rate%16.325.225.4
Net profit margin%36.118.228.8
* 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 18.9% on a year-on-year (YoY) basis. The interest expended was up by 9.8% YoY during the same period.
  • The bank's operating profit increased by 25.8% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 60.1% in 2QFY21 as against 56.8% in 2QFY20.
  • Other income increased by 6.0% YoY during the quarter.
  • Net profit for the quarter declined by 5.3% YoY. Net profit margins during the quarter declined from 36.1% in 2QFY20 to 28.8% in 2QFY21.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 5.9% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 5.6% QoQ during the same period.
  • The bank's operating profit increased by 6.2% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 60.1% in 2QFY21 as against 60.0% in 1QFY20.
  • Net profit for the quarter increased by 67.3% QoQ, while net profit margins increased from 18.2% in 1QFY20 to 28.8% in 2QFY21.

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

Know More: Which way are the markets & the mutual fund industry headed?

BANDHAN BANK Share Price Performance

Over the last one year, BANDHAN BANK share price has moved down from Rs 589.9 to Rs 304.9, registering a Loss of Rs 285.0 or around 48.3%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 29,167.5 (down 1.0%). Over the last one year it has moved down from 34,219.4 to 29,167.5, a gain of 5,052 points (down 14.8%).

Overall, the S&P BSE SENSEX is up 0.4% over the year.

Current Valuations

At the current price of Rs 304.9, the price to earnings (P/E) ratio of BANDHAN BANK stands at 21.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 5.2 times.

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