BANK OF INDIA Announces Quarterly Results (1QFY20); Net Profit Up 155.1%

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BANK OF INDIA Announces Quarterly Results (1QFY20); Net Profit Up 155.1%
Wed, 31 Jul

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

BANK OF INDIA Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Operating incomeRs m100,129108,141103,322-4.5%3.2%
Other incomeRs m8,30116,03011,948-25.5%43.9%
Total revenuesRs m108,430124,171115,270-7.2%6.3%
InterestRs m66,58667,69768,4681.1%2.8%
Gross Profit Rs m33,54340,44434,854-13.8%3.9%
Other expensesRs m23,15233,44224,089-28.0%4.0%
Profit before taxRs m-6,9504,0583,594-11.4%
TaxRs m-7,9011,5401,168-24.2%
Profit after taxRs m9512,5182,426-3.6%155.1%
Gross profit margin %33.537.433.7
Effective tax rate%113.737.932.5
Net profit margin%0.92.32.3
* 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 3.2% on a year-on-year (YoY) basis. The interest expended was up by 2.8% YoY during the same period.
  • The bank's operating profit increased by 3.9% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 33.7% in 1QFY20 as against 33.5% in 1QFY19.
  • Other income increased by 43.9% YoY during the quarter.
  • Net profit for the quarter increased by 155.1% YoY. Net profit margins during the quarter increased from 0.9% in 1QFY19 to 2.3% in 1QFY20.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter fell 4.5% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 1.1% QoQ during the same period.
  • The bank's operating profit declined by 13.8% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 33.7% in 1QFY20 as against 37.4% in 4QFY19.
  • Net profit for the quarter declined by 3.6% QoQ, while net profit margins increased from 2.3% in 4QFY19 to 2.3% in 1QFY20.

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

BANK OF INDIA Share Price Performance

Over the last one year,BANK OF INDIA share price has moved down from Rs 94.4 to Rs 72.0, registering a Loss of Rs 22.4 or around 23.7%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 32,516.3 (down 0.2%). Over the last one year it has moved up from 31,006.0 to 32,516.3, a gain of 1,510 points (up 4.9%).

Overall, the S&P BSE SENSEX is down 0.7% over the year.

Current Valuations

At the current price of Rs 72.0, the price to book value (P/BV) ratio of BANK OF INDIA stands at 0.1 times.

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