BANK OF BARODA Announces Quarterly Results (3QFY20); Net Profit Down 398.6%

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BANK OF BARODA Announces Quarterly Results (3QFY20); Net Profit Down 398.6%
Mon, 27 Jan

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

BANK OF BARODA Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-18*
3
Sep-19*
3
Dec-19*
QoQ ChangeYoY Change
Operating incomeRs m129,417192,740190,679-1.1%47.3%
Other incomeRs m16,21128,23927,412-2.9%69.1%
Total revenuesRs m145,629220,979218,091-1.3%49.8%
InterestRs m81,985122,460119,389-2.5%45.6%
Gross Profit Rs m47,43270,27971,2911.4%50.3%
Other expensesRs m28,25845,16049,1188.8%73.8%
Profit before taxRs m7,44311,268-21,970-295.0%-395.2%
TaxRs m2,7313,901-7,900-302.5%-389.3%
Profit after taxRs m4,7137,367-14,070-291.0%-398.6%
Gross profit margin %36.736.537.4
Effective tax rate%36.734.636.0
Net profit margin%3.63.8-7.4
* 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 grew 47.3% on a year-on-year (YoY) basis. The interest expended was up by 45.6% YoY during the same period.
  • The bank's operating profit increased by 50.3% YoY during the quarter. Consequently, operating profit margins remained same and stood at 37.4% in 3QFY20.
  • Other income increased by 69.1% YoY during the quarter.
  • Net profit for the quarter declined by 398.6% YoY. Net profit margins during the quarter declined from 3.6% in 3QFY19 to -7.4% in 3QFY20.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter fell 1.1% on a quarter-on-quarter (QoQ) basis. The interest expended was down by 2.5% QoQ during the same period.
  • The bank's operating profit increased by 1.4% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 37.4% in 3QFY20 as against 36.5% in 2QFY19.
  • Net profit for the quarter declined by 291.0% QoQ, while net profit margins declined from 3.8% in 2QFY19 to -7.4% in 3QFY20.

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

Latest: Chinese Aggression on the Border Triggers a Huge Opportunity

BANK OF BARODA Share Price Performance

Over the last one year,BANK OF BARODA share price has moved down from Rs 110.1 to Rs 92.5, registering a Loss of Rs 17.6 or around 16.0%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 35,401.0 (down 0.7%). Over the last one year it has moved up from 30,377.5 to 35,401.0, a gain of 5,024 points (up 16.5%).

Overall, the S&P BSE SENSEX is up 14.2% over the year.

Current Valuations

At the current price of Rs 92.5, the price to book value (P/BV) ratio of BANK OF BARODA stands at 0.4 times.

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