BANK OF BARODA Announces Quarterly Results (3QFY19); Net Profit Up 321.6%

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BANK OF BARODA Announces Quarterly Results (3QFY19); Net Profit Up 321.6%
Wed, 30 Jan

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

BANK OF BARODA Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Operating incomeRs m113,032120,783129,4177.1%14.5%
Other incomeRs m16,73013,51616,21119.9%-3.1%
Total revenuesRs m129,763134,300145,6298.4%12.2%
InterestRs m69,09275,85881,9858.1%18.7%
Gross Profit Rs m43,94044,92547,4325.6%7.9%
Other expensesRs m24,17027,62228,2582.3%16.9%
Profit before taxRs m2,2366,5247,44314.1%232.9%
TaxRs m1,1182,2702,73120.3%144.2%
Profit after taxRs m1,1184,2544,71310.8%321.6%
Gross profit margin %38.937.236.7
Effective tax rate%50.034.836.7
Net profit margin%1.03.53.6
* 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 14.5% on a year-on-year (YoY) basis. The interest expended was up by 18.7% YoY during the same period.
  • The bank's operating profit increased by 7.9% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 36.7% in 3QFY19 as against 38.9% in 3QFY18.
  • Other income declined by 3.1% YoY during the quarter.
  • Net profit for the quarter increased by 321.6% YoY. Net profit margins during the quarter increased from 1.0% in 3QFY18 to 3.6% in 3QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 7.1% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 8.1% QoQ during the same period.
  • The bank's operating profit declined by 5.6% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 36.7% in 3QFY19 as against 37.2% in 2QFY18.
  • Net profit for the quarter increased by 10.8% QoQ, while net profit margins increased from 3.5% in 2QFY18 to 3.6% in 3QFY19.

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 160.1 to Rs 113.3, registering a Loss of Rs 46.8 or around 29.2%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 30,237.8 (up 1.4%). Over the last one year it has moved down from 30,861.3 to 30,237.8, a gain of 624 points (down 2.0%).

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

Current Valuations

At the current price of Rs 113.3, the price to book value (P/BV) ratio of BANK OF BARODA stands at 0.6 times.

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