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

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BANK OF INDIA Announces Quarterly Results (4QFY19); Net Profit Up 106.3%
Tue, 21 May

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

BANK OF INDIA Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Operating incomeRs m93,468101,710108,1416.3%15.7%
Other incomeRs m13,75216,68516,030-3.9%16.6%
Total revenuesRs m107,221118,395124,1714.9%15.8%
InterestRs m67,83068,38867,697-1.0%-0.2%
Gross Profit Rs m25,63933,32240,44421.4%57.7%
Other expensesRs m27,67027,27933,44222.6%20.9%
Profit before taxRs m-55,020-67,2794,058
TaxRs m-15,327-19,9031,540
Profit after taxRs m-39,693-47,3762,518
Gross profit margin %27.432.837.4
Effective tax rate%27.929.637.9
Net profit margin%-42.5-46.62.3
* 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 15.7% on a year-on-year (YoY) basis. The interest expended was down by 0.2% YoY during the same period.
  • The bank's operating profit increased by 57.7% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 37.4% in 4QFY19 as against 27.4% in 4QFY18.
  • Other income increased by 16.6% YoY during the quarter.
  • Net profit for the quarter increased by 106.3% YoY. Net profit margins during the quarter increased from -42.5% in 4QFY18 to 2.3% in 4QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 6.3% on a quarter-on-quarter (QoQ) basis. The interest expended was down by 1.0% QoQ during the same period.
  • The bank's operating profit increased by 21.4% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 37.4% in 4QFY19 as against 32.8% in 3QFY18.
  • Net profit for the quarter increased by 105.3% QoQ, while net profit margins increased from -46.6% in 3QFY18 to 2.3% in 4QFY19.

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 98.2 to Rs 90.3, registering a Loss of Rs 7.9 or around 8.0%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 34,369.7 (down 0.1%). Over the last one year it has moved up from 28,851.1 to 34,369.7, a gain of 5,519 points (up 19.1%).

Overall, the S&P BSE SENSEX is up 14.0% over the year.

Current Valuations

At the current price of Rs 90.3, the price to book value (P/BV) ratio of BANK OF INDIA stands at 0.2 times.

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