BANK OF BARODA Announces Quarterly Results (2QFY19); Net Profit Up 19.7%

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BANK OF BARODA Announces Quarterly Results (2QFY19); Net Profit Up 19.7%
Tue, 6 Nov

BANK OF BARODA has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

BANK OF BARODA Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Operating incomeRs m107,533116,399120,7833.8%12.3%
Other incomeRs m17,37111,47813,51617.8%-22.2%
Total revenuesRs m124,904127,877134,3005.0%7.5%
InterestRs m70,32872,58875,8584.5%7.9%
Gross Profit Rs m13,91243,81144,9252.5%222.9%
Other expensesRs m24,15825,23327,6229.5%14.3%
Profit before taxRs m7,1258,4006,524-22.3%-8.4%
TaxRs m3,5713,1172,270-27.2%-36.4%
Profit after taxRs m3,5545,2834,254-19.5%19.7%
Gross profit margin %12.937.637.2
Effective tax rate%50.137.134.8
Net profit margin%3.34.53.5
* 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 12.3% on a year-on-year (YoY) basis. The interest expended was up by 7.9% YoY during the same period.
  • The bank's operating profit increased by 222.9% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 37.2% in 2QFY19 as against 12.9% in 2QFY18.
  • Other income declined by 22.2% YoY during the quarter.
  • Net profit for the quarter increased by 19.7% YoY. Net profit margins during the quarter increased from 3.3% in 2QFY18 to 3.5% in 2QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 3.8% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 4.5% QoQ during the same period.
  • The bank's operating profit declined by 2.5% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 37.2% in 2QFY19 as against 37.6% in 1QFY18.
  • Net profit for the quarter declined by 19.5% QoQ, while net profit margins declined from 4.5% in 1QFY18 to 3.5% in 2QFY19.

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 up from Rs 172.0 to Rs 111.1, registering a Loss of Rs 60.9 or around 35.4%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 29,050.3 (down 0.0%). Over the last one year it has moved up from 28,997.4 to 29,050.3, a gain of 53 points (up 0.2%).

Overall, the S&P BSE SENSEX is up 4.1% over the year.

Current Valuations

At the current price of Rs 111.1, the price to book value (P/BV) ratio of BANK OF BARODA stands at 0.5 times.

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