BANK OF BARODA Announces Quarterly Results (2QFY21); Net Profit Up 127.9%

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BANK OF BARODA Announces Quarterly Results (2QFY21); Net Profit Up 127.9%
Fri, 30 Oct

BANK OF BARODA has announced its results for the quarter ended September 2020. Here is a detailed performance review of the same:

BANK OF BARODA Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-19*
3
Jun-20*
3
Sep-20*
QoQ ChangeYoY Change
Operating incomeRs m192,740184,942179,176-3.1%-7.0%
Other incomeRs m28,23918,18328,02354.1%-0.8%
Total revenuesRs m220,979203,124207,1992.0%-6.2%
InterestRs m122,460116,781104,101-10.9%-15.0%
Gross Profit Rs m70,27968,16175,07510.1%6.8%
Other expensesRs m45,16043,14447,58010.3%5.4%
Profit before taxRs m11,268-13,07825,502126.3%
TaxRs m3,901-4,4358,716123.4%
Profit after taxRs m7,367-8,64316,786127.9%
Gross profit margin %36.536.941.9
Effective tax rate%34.633.934.2
Net profit margin%3.8-4.79.4
* 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 fell 7.0% on a year-on-year (YoY) basis. The interest expended was down by 15.0% YoY during the same period.
  • The bank's operating profit increased by 6.8% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 41.9% in 2QFY21 as against 36.5% in 2QFY20.
  • Other income declined by 0.8% YoY during the quarter.
  • Net profit for the quarter increased by 127.9% YoY. Net profit margins during the quarter increased from 3.8% in 2QFY20 to 9.4% in 2QFY21.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter fell 3.1% on a quarter-on-quarter (QoQ) basis. The interest expended was down by 10.9% QoQ during the same period.
  • The bank's operating profit increased by 10.1% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 41.9% in 2QFY21 as against 36.9% in 1QFY20.
  • Net profit for the quarter increased by 294.2% QoQ, while net profit margins increased from -4.7% in 1QFY20 to 9.4% in 2QFY21.

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 95.6 to Rs 42.2, registering a Loss of Rs 53.4 or around 55.9%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 27,383.7 (down 0.9%). Over the last one year it has moved down from 33,837.9 to 27,383.7, a gain of 6,454 points (down 19.1%).

Overall, the S&P BSE SENSEX is down 0.8% over the year.

Current Valuations

At the current price of Rs 42.2, the price to book value (P/BV) ratio of BANK OF BARODA stands at 0.1 times.

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Dec 2, 2020 (Close)

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