BANK OF BARODA Announces Quarterly Results (2QFY20); Net Profit Up 73.2%

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BANK OF BARODA Announces Quarterly Results (2QFY20); Net Profit Up 73.2%
Tue, 12 Nov

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

BANK OF BARODA Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Operating incomeRs m120,783189,453192,7401.7%59.6%
Other incomeRs m13,51619,15628,23947.4%108.9%
Total revenuesRs m134,300208,609220,9795.9%64.5%
InterestRs m75,858124,472122,460-1.6%61.4%
Gross Profit Rs m44,92564,98170,2798.2%56.4%
Other expensesRs m27,62241,37545,1609.1%63.5%
Profit before taxRs m6,5249,91411,26813.7%72.7%
TaxRs m2,2702,8153,90138.6%71.8%
Profit after taxRs m4,2547,0997,3673.8%73.2%
Gross profit margin %37.234.336.5
Effective tax rate%34.828.434.6
Net profit margin%3.53.73.8
* 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 59.6% on a year-on-year (YoY) basis. The interest expended was up by 61.4% YoY during the same period.
  • The bank's operating profit increased by 56.4% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 36.5% in 2QFY20 as against 37.2% in 2QFY19.
  • Other income increased by 108.9% YoY during the quarter.
  • Net profit for the quarter increased by 73.2% YoY. Net profit margins during the quarter increased from 3.5% in 2QFY19 to 3.8% in 2QFY20.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 1.7% on a quarter-on-quarter (QoQ) basis. The interest expended was down by 1.6% QoQ during the same period.
  • The bank's operating profit increased by 8.2% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 36.5% in 2QFY20 as against 34.3% in 1QFY19.
  • Net profit for the quarter increased by 3.8% QoQ, while net profit margins increased from 3.7% in 1QFY19 to 3.8% in 2QFY20.

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 down from Rs 109.4 to Rs 96.5, registering a Loss of Rs 12.9 or around 11.8%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 35,260.0 (up 1.2%). Over the last one year it has moved up from 28,854.0 to 35,260.0, a gain of 6,406 points (up 22.2%).

Overall, the S&P BSE SENSEX is up 15.9% over the year.

Current Valuations

At the current price of Rs 96.5, the price to earnings (P/E) ratio of BANK OF BARODA stands at 24.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.4 times.

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