BANK OF BARODA Announces Quarterly Results (1QFY22); Net Profit Up 279.8%

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BANK OF BARODA Announces Quarterly Results (1QFY22); Net Profit Up 279.8%
Mon, 9 Aug

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

BANK OF BARODA Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-20*
3
Mar-21*
3
Jun-21*
QoQ ChangeYoY Change
Operating incomeRs m195,237174,083180,2583.5%-7.7%
Other incomeRs m21,61163,53833,298-47.6%54.1%
Total revenuesRs m216,847237,621213,555-10.1%-1.5%
InterestRs m120,55399,42495,543-3.9%-20.7%
Gross Profit Rs m74,68374,65984,71513.5%13.4%
Other expensesRs m49,73468,93356,958-17.4%14.5%
Profit before taxRs m-10,44928,93016,108-44.3%
TaxRs m-3,94637,4234,416-88.2%
Profit after taxRs m-6,503-8,49311,692
Gross profit margin %38.342.947.0
Effective tax rate%37.8129.427.4
Net profit margin%-3.3-4.96.5
* 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 fell 7.7% on a year-on-year (YoY) basis. The interest expended was down by 20.7% YoY during the same period.
  • The bank's operating profit increased by 13.4% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 47.0% in 1QFY22 as against 38.3% in 1QFY21.
  • Other income increased by 54.1% YoY during the quarter.
  • Net profit for the quarter increased by 279.8% YoY. Net profit margins during the quarter increased from -3.3% in 1QFY21 to 6.5% in 1QFY22.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 3.5% on a quarter-on-quarter (QoQ) basis. The interest expended was down by 3.9% QoQ during the same period.
  • The bank's operating profit increased by 13.5% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 47.0% in 1QFY22 as against 42.9% in 4QFY21.
  • Net profit for the quarter increased by 237.7% QoQ, while net profit margins increased from -4.9% in 4QFY21 to 6.5% in 1QFY22.

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

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BANK OF BARODA Share Price Performance

Over the last one year, BANK OF BARODA share price has moved up from Rs 48.5 to Rs 81.2, registering a Gain of Rs 32.7 or around 67.5%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 40,993.5 (up 0.6%). Over the last one year it has moved up from 24,696.2 to 40,993.5, a gain of 16,297 points (up 66.0%).

Overall, the S&P BSE SENSEX is up 44.4% over the year.

Current Valuations

At the current price of Rs 81.2, the price to earnings (P/E) ratio of BANK OF BARODA stands at 12.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.5 times.

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