BANK OF INDIA Announces Quarterly Results (3QFY19); Net Profit Down 102.4%

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BANK OF INDIA Announces Quarterly Results (3QFY19); Net Profit Down 102.4%
Wed, 30 Jan

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

BANK OF INDIA Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Operating incomeRs m93,34897,698101,7104.1%9.0%
Other incomeRs m10,41210,30416,68561.9%60.3%
Total revenuesRs m103,760108,002118,3959.6%14.1%
InterestRs m68,33668,43068,388-0.1%0.1%
Gross Profit Rs m25,01229,26833,32213.9%33.2%
Other expensesRs m21,88123,10227,27918.1%24.7%
Profit before taxRs m-35,454-16,963-67,279
TaxRs m-12,042-5,400-19,903
Profit after taxRs m-23,412-11,563-47,376
Gross profit margin %26.830.032.8
Effective tax rate%34.031.829.6
Net profit margin%-25.1-11.8-46.6
* 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 9.0% on a year-on-year (YoY) basis. The interest expended was up by 0.1% YoY during the same period.
  • The bank's operating profit increased by 33.2% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 32.8% in 3QFY19 as against 26.8% in 3QFY18.
  • Other income increased by 60.3% YoY during the quarter.
  • Net profit for the quarter declined by 102.4% YoY. Net profit margins during the quarter declined from -25.1% in 3QFY18 to -46.6% in 3QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 4.1% on a quarter-on-quarter (QoQ) basis. The interest expended was down by 0.1% QoQ during the same period.
  • The bank's operating profit increased by 13.9% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 32.8% in 3QFY19 as against 30.0% in 2QFY18.
  • Net profit for the quarter declined by 309.7% QoQ, while net profit margins declined from -11.8% in 2QFY18 to -46.6% in 3QFY19.

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 162.1 to Rs 97.2, registering a Loss of Rs 64.9 or around 40.0%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 30,121.0 (up 1.0%). Over the last one year it has moved down from 30,861.3 to 30,121.0, a gain of 740 points (down 2.4%).

Overall, the S&P BSE SENSEX is down 1.9% over the year.

Current Valuations

At the current price of Rs 97.2, the price to book value (P/BV) ratio of BANK OF INDIA stands at 0.2 times.

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