BANDHAN BANK LTD Announces Quarterly Results (3QFY20); Net Profit Up 120.7%

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BANDHAN BANK LTD Announces Quarterly Results (3QFY20); Net Profit Up 120.7%
Wed, 15 Jan

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

BANDHAN BANK LTD Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-18*
3
Sep-19*
3
Dec-19*
QoQ ChangeYoY Change
Operating incomeRs m16,49626,90327,1761.0%64.7%
Other incomeRs m2,3413,6033,577-0.7%52.8%
Total revenuesRs m18,83730,50530,7530.8%63.3%
InterestRs m5,25611,61211,7741.4%124.0%
Gross Profit Rs m11,24015,29015,4030.7%37.0%
Other expensesRs m4,5765,8246,3418.9%38.6%
Profit before taxRs m5,22811,6149,690-16.6%85.3%
TaxRs m1,9161,8962,38025.5%24.2%
Profit after taxRs m3,3139,7187,310-24.8%120.7%
Gross profit margin %68.156.856.7
Effective tax rate%36.616.324.6
Net profit margin%20.136.126.9
* 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 64.7% on a year-on-year (YoY) basis. The interest expended was up by 124.0% YoY during the same period.
  • The bank's operating profit increased by 37.0% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 56.7% in 3QFY20 as against 68.1% in 3QFY19.
  • Other income increased by 52.8% YoY during the quarter.
  • Net profit for the quarter increased by 120.7% YoY. Net profit margins during the quarter increased from 20.1% in 3QFY19 to 26.9% in 3QFY20.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 1.0% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 1.4% QoQ during the same period.
  • The bank's operating profit increased by 0.7% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 56.7% in 3QFY20 as against 56.8% in 2QFY19.
  • Net profit for the quarter declined by 24.8% QoQ, while net profit margins declined from 36.1% in 2QFY19 to 26.9% in 3QFY20.

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

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BANDHAN BANK LTD Share Price Performance

Over the last one year,BANDHAN BANK LTD share price has moved up from Rs 451.8 to Rs 506.0, registering a Gain of Rs 54.2 or around 12.0%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 36,237.4 (down 0.8%). Over the last one year it has moved up from 30,681.8 to 36,237.4, a gain of 5,556 points (up 18.1%).

Overall, the S&P BSE SENSEX is up 16.5% over the year.

Current Valuations

At the current price of Rs 506.0, the price to earnings (P/E) ratio of BANDHAN BANK LTD stands at 31.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 8.6 times.

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