BANDHAN BANK Announces Quarterly Results (3QFY21); Net Profit Down 13.5%

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BANDHAN BANK Announces Quarterly Results (3QFY21); Net Profit Down 13.5%
Fri, 22 Jan

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

BANDHAN BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-19*
3
Sep-20*
3
Dec-20*
QoQ ChangeYoY Change
Operating incomeRs m27,17631,97633,0783.4%21.7%
Other incomeRs m3,5773,8185,53344.9%54.7%
Total revenuesRs m30,75335,79438,6117.9%25.6%
InterestRs m11,77412,74512,361-3.0%5.0%
Gross Profit Rs m15,40319,23120,7177.7%34.5%
Other expensesRs m6,3416,7737,1095.0%12.1%
Profit before taxRs m9,69012,3308,454-31.4%-12.8%
TaxRs m2,3803,1302,128-32.0%-10.6%
Profit after taxRs m7,3109,2006,326-31.2%-13.5%
Gross profit margin %56.760.162.6
Effective tax rate%24.625.425.2
Net profit margin%26.928.819.1
* 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 21.7% on a year-on-year (YoY) basis. The interest expended was up by 5.0% YoY during the same period.
  • The bank's operating profit increased by 34.5% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 62.6% in 3QFY21 as against 56.7% in 3QFY20.
  • Other income increased by 54.7% YoY during the quarter.
  • Net profit for the quarter declined by 13.5% YoY. Net profit margins during the quarter declined from 26.9% in 3QFY20 to 19.1% in 3QFY21.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 3.4% on a quarter-on-quarter (QoQ) basis. The interest expended was down by 3.0% QoQ during the same period.
  • The bank's operating profit increased by 7.7% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 62.6% in 3QFY21 as against 60.1% in 2QFY20.
  • Net profit for the quarter declined by 31.2% QoQ, while net profit margins declined from 28.8% in 2QFY20 to 19.1% in 3QFY21.

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

Urgent New Alert: About Coming Once-in-a-generation Wealth Shift

BANDHAN BANK Share Price Performance

Over the last one year, BANDHAN BANK share price has moved down from Rs 475.5 to Rs 317.4, registering a Loss of Rs 158.1 or around 33.3%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 35,546.9 (down 2.6%). Over the last one year it has moved up from 34,971.3 to 35,546.9, a gain of 576 points (up 1.6%).

Overall, the S&P BSE SENSEX is up 18.1% over the year.

Current Valuations

At the current price of Rs 317.4, the price to earnings (P/E) ratio of BANDHAN BANK stands at 23.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.0 times.

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