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

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 (2QFY20); Net Profit Up 123.0%
Mon, 4 Nov

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

BANK OF INDIA Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Operating incomeRs m97,698103,322106,5813.2%9.1%
Other incomeRs m10,30411,94813,27411.1%28.8%
Total revenuesRs m108,002115,270119,8554.0%11.0%
InterestRs m68,43068,46867,977-0.7%-0.7%
Gross Profit Rs m29,26834,85438,60510.8%31.9%
Other expensesRs m23,10224,08927,28013.2%18.1%
Profit before taxRs m-16,9633,5944,07613.4%
TaxRs m-5,4001,1681,41220.9%
Profit after taxRs m-11,5632,4262,6649.8%
Gross profit margin %30.033.736.2
Effective tax rate%31.832.534.6
Net profit margin%-11.82.32.5
* 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 9.1% on a year-on-year (YoY) basis. The interest expended was down by 0.7% YoY during the same period.
  • The bank's operating profit increased by 31.9% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 36.2% in 2QFY20 as against 30.0% in 2QFY19.
  • Other income increased by 28.8% YoY during the quarter.
  • Net profit for the quarter increased by 123.0% YoY. Net profit margins during the quarter increased from -11.8% in 2QFY19 to 2.5% in 2QFY20.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 3.2% on a quarter-on-quarter (QoQ) basis. The interest expended was down by 0.7% QoQ during the same period.
  • The bank's operating profit increased by 10.8% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 36.2% in 2QFY20 as against 33.7% in 1QFY19.
  • Net profit for the quarter increased by 9.8% QoQ, while net profit margins increased from 2.3% in 1QFY19 to 2.5% in 2QFY20.

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

SHOCKING: Ex-Swiss Investment Banker's Lucrative Income Generating Secret

BANK OF INDIA Share Price Performance

Over the last one year,BANK OF INDIA share price has moved down from Rs 84.4 to Rs 72.0, registering a Loss of Rs 12.4 or around 14.6%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 34,517.8 (up 0.9%). Over the last one year it has moved up from 29,016.4 to 34,517.8, a gain of 5,501 points (up 19.0%).

Overall, the S&P BSE SENSEX is up 17.2% 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.

Equitymaster requests your view! Post a comment on "BANK OF INDIA Announces Quarterly Results (2QFY20); Net Profit Up 123.0%". Click here!

  

Related Views on News

How the YES Bank Collapse Unfolded - 10 Points (Sector Info)

Mar 9, 2020

A timeline of how YES Bank went from a stock market darling to a pariah.

Today's Stock Market Crash: 10 Points (Sector Info)

Mar 6, 2020

Top factors that dragged the markets lower today.

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.

BANK OF INDIA Announces Quarterly Results (4QFY19); Net Profit Up 106.3% (Quarterly Result Update)

May 21, 2019 | Updated on May 21, 2019

For the quarter ended March 2019, BANK OF INDIA has posted a net profit of Rs 3 bn (up 106.3% YoY). Sales on the other hand came in at Rs 108 bn (up 15.7% YoY). Read on for a complete analysis of BANK OF INDIA's quarterly results.

More Views on News

Most Popular

Not Infosys or Wipro. India's Next Wealth Creators Could Be Drone Stocks(Profit Hunter)

Nov 25, 2020

India's drones directorate signals the next big defence tech multibaggers.

It's Time to Book Profits(Fast Profits Daily)

Nov 27, 2020

In my first video on Equitymaster, I want to introduce you my proprietary greed and fear index. It's telling us to book some profits in the market.

How the New Margins Will Impact You(Fast Profits Daily)

Nov 25, 2020

The new rules on margins will come into effect from 1st December. Are you ready?

Create Wealth for Yourself in India's Drone Revolution(Profit Hunter)

Nov 27, 2020

The Chinese drone market is 14 times that of India's. Billions may flow into Indian drone companies too. Don't miss out on this wealth creating opportunity.

More

Covid-19 Proof
Multibagger Stocks

Covid19 Proof Multibaggers
Get this special report, authored by Equitymaster's top analysts now!
We will never sell or rent your email id.
Please read our Terms

BANK OF INDIA SHARE PRICE


Dec 4, 2020 (Close)

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 5-YR ANALYSIS

COMPARE BANK OF INDIA WITH

MARKET STATS