BANK OF INDIA Announces Quarterly Results (2QFY19); Net Profit Down 745.7%

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

BANK OF INDIA Announces Quarterly Results (2QFY19); Net Profit Down 745.7%
Wed, 14 Nov

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

BANK OF INDIA Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Operating incomeRs m98,941100,12997,698-2.4%-1.3%
Other incomeRs m17,0648,30110,30424.1%-39.6%
Total revenuesRs m116,005108,430108,002-0.4%-6.9%
InterestRs m69,85966,58668,4302.8%-2.0%
Gross Profit Rs m29,08233,54329,268-12.7%0.6%
Other expensesRs m23,81623,15223,102-0.2%-3.0%
Profit before taxRs m2,798-6,950-16,963-706.3%
TaxRs m1,007-7,901-5,400-636.4%
Profit after taxRs m1,791951-11,563-1315.7%-745.7%
Gross profit margin %29.433.530.0
Effective tax rate%36.0113.731.8
Net profit margin%1.80.9-11.8
* 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 fell 1.3% on a year-on-year (YoY) basis. The interest expended was down by 2.0% YoY during the same period.
  • The bank's operating profit increased by 0.6% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 30.0% in 2QFY19 as against 29.4% in 2QFY18.
  • Other income declined by 39.6% YoY during the quarter.
  • Net profit for the quarter declined by 745.7% YoY. Net profit margins during the quarter declined from 1.8% in 2QFY18 to -11.8% in 2QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter fell 2.4% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 2.8% QoQ during the same period.
  • The bank's operating profit declined by 12.7% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 30.0% in 2QFY19 as against 33.5% in 1QFY18.
  • Net profit for the quarter declined by 1315.7% QoQ, while net profit margins declined from 0.9% in 1QFY18 to -11.8% in 2QFY19.

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 up from Rs 195.8 to Rs 82.7, registering a Loss of Rs 113.1 or around 57.8%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 29,372.4 (up 0.8%). Over the last one year it has moved up from 28,705.6 to 29,372.4, a gain of 667 points (up 2.3%).

Overall, the S&P BSE SENSEX is up 6.6% over the year.

Current Valuations

At the current price of Rs 82.7, the price to book value (P/BV) ratio of BANK OF INDIA stands at 0.1 times.

Equitymaster requests your view! Post a comment on "BANK OF INDIA Announces Quarterly Results (2QFY19); Net Profit Down 745.7%". Click here!

  

Related Views on News

BANK OF INDIA Announces Quarterly Results (2QFY20); Net Profit Up 123.0% (Quarterly Result Update)

Nov 4, 2019 | Updated on Nov 4, 2019

For the quarter ended September 2019, BANK OF INDIA has posted a net profit of Rs 3 bn (up 123.0% YoY). Sales on the other hand came in at Rs 107 bn (up 9.1% YoY). Read on for a complete analysis of BANK OF INDIA's quarterly results.

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

Jul 31, 2019 | Updated on Jul 31, 2019

For the quarter ended June 2019, BANK OF INDIA has posted a net profit of Rs 2 bn (up 155.1% YoY). Sales on the other hand came in at Rs 103 bn (up 3.2% YoY). Read on for a complete analysis of BANK OF INDIA's quarterly results.

Bandhan Bank IPO: A Microlender Turned Profitable Bank (IPO)

Mar 12, 2018

Is the IPO of one of India's newest private sector bank, Bandhan Bank, worth applying for?

More Views on News

Most Popular

Could this Smallcap Be the Next Page Industries?(Profit Hunter)

Nov 27, 2019

A single stock - Coca Cola, made Buffett billions. Here's your chance to break into the crorepati club with a single smallcap stock investment.

How We Made 12.68% in One Overnight Trade(The 5 Minute Wrapup)

Nov 25, 2019

This one trade had my subscribers laughing all the way to the bank.

Growth Stocks or Value Stocks... What Will Make You More Money in this Bull Market?(Profit Hunter)

Nov 28, 2019

Should you invest in growth stocks or value stocks to make strong returns in this market?

Two Trends to Look at as Sensex Crosses 41,000 Levels(Views On News)

Nov 26, 2019

The two trends that are playing out as Sensex touches new record high.

The Best Trading Strategy for Fast Profits

Nov 29, 2019

Vijay and I have decided to team up and bring you a unique offering never seen before in the Indian stock markets.

More

Get the Indian Stock Market's
Most Profitable Ideas

How To Beat Sensex Guide 2020
Get our special report, How to Beat Sensex Nearly 3X Now!
We will never sell or rent your email id.
Please read our Terms

BANK OF INDIA SHARE PRICE


Dec 6, 2019 11:34 AM

TRACK BANK OF INDIA

  • Track your investment in BANK OF INDIA with Equitymaster's Portfolio Tracker. Set live price alerts, get research alerts and more. Get access now...
  • Add To MyStocks

BANK OF INDIA - DEUTSCHE BANK COMPARISON

COMPARE BANK OF INDIA WITH

MARKET STATS