BANK OF BARODA Announces Quarterly Results (1QFY20); Net Profit Up 34.4%

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BANK OF BARODA Announces Quarterly Results (1QFY20); Net Profit Up 34.4%
Mon, 29 Jul

BANK OF BARODA has announced its results for the quarter ended June 2019. Here is a detailed performance review of the same:

BANK OF BARODA Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Operating incomeRs m116,399133,142189,45342.3%62.8%
Other incomeRs m11,47819,70419,156-2.8%66.9%
Total revenuesRs m127,877152,846208,60936.5%63.1%
InterestRs m72,58882,472124,47250.9%71.5%
Gross Profit Rs m43,81150,67064,98128.2%48.3%
Other expensesRs m25,23331,76641,37530.2%64.0%
Profit before taxRs m8,400-15,3859,91418.0%
TaxRs m3,117-5,4712,815-9.7%
Profit after taxRs m5,283-9,9147,09934.4%
Gross profit margin %37.638.134.3
Effective tax rate%37.135.628.4
Net profit margin%4.5-7.43.7
* 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 62.8% on a year-on-year (YoY) basis. The interest expended was up by 71.5% YoY during the same period.
  • The bank's operating profit increased by 48.3% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 34.3% in 1QFY20 as against 37.6% in 1QFY19.
  • Other income increased by 66.9% YoY during the quarter.
  • Net profit for the quarter increased by 34.4% YoY. Net profit margins during the quarter declined from 4.5% in 1QFY19 to 3.7% in 1QFY20.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 42.3% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 50.9% QoQ during the same period.
  • The bank's operating profit declined by 28.2% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 34.3% in 1QFY20 as against 38.1% in 4QFY19.
  • Net profit for the quarter increased by 171.6% QoQ, while net profit margins increased from -7.4% in 4QFY19 to 3.7% in 1QFY20.

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

BANK OF BARODA Share Price Performance

Over the last one year,BANK OF BARODA share price has moved down from Rs 138.1 to Rs 110.1, registering a Loss of Rs 28.0 or around 20.2%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 33,095.9 (down 0.1%). Over the last one year it has moved up from 30,743.1 to 33,095.9, a gain of 2,353 points (up 7.7%).

Overall, the S&P BSE SENSEX is up 1.7% over the year.

Current Valuations

At the current price of Rs 110.1, the price to earnings (P/E) ratio of BANK OF BARODA stands at 41.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.5 times.

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