DCB BANK Announces Quarterly Results (1QFY20); Net Profit Up 16.6%

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DCB BANK Announces Quarterly Results (1QFY20); Net Profit Up 16.6%
Wed, 17 Jul

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

DCB BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Operating incomeRs m7,0148,2718,5773.7%22.3%
Other incomeRs m828994868-12.7%4.7%
Total revenuesRs m7,8439,2659,4451.9%20.4%
InterestRs m4,2855,2625,5305.1%29.1%
Gross Profit Rs m2,7303,0093,0481.3%11.6%
Other expensesRs m2,1442,1502,2504.7%4.9%
Profit before taxRs m1,0821,5051,259-16.3%16.4%
TaxRs m387542448-17.2%15.9%
Profit after taxRs m695963811-15.9%16.6%
Gross profit margin %38.936.435.5
Effective tax rate%35.836.035.6
Net profit margin%9.911.69.5
* 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 22.3% on a year-on-year (YoY) basis. The interest expended was up by 29.1% YoY during the same period.
  • The bank's operating profit increased by 11.6% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 35.5% in 1QFY20 as against 38.9% in 1QFY19.
  • Other income increased by 4.7% YoY during the quarter.
  • Net profit for the quarter increased by 16.6% YoY. Net profit margins during the quarter declined from 9.9% in 1QFY19 to 9.5% in 1QFY20.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 3.7% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 5.1% QoQ during the same period.
  • The bank's operating profit declined by 1.3% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 35.5% in 1QFY20 as against 36.4% in 4QFY19.
  • Net profit for the quarter declined by 15.9% QoQ, while net profit margins declined from 11.6% in 4QFY19 to 9.5% in 1QFY20.

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

DCB BANK Share Price Performance

Over the last one year,DCB BANK share price has moved up from Rs 162.6 to Rs 211.4, registering a Gain of Rs 48.9 or around 30.1%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 34,630.3 (up 0.6%). Over the last one year it has moved up from 29,919.7 to 34,630.3, a gain of 4,711 points (up 15.7%).

Overall, the S&P BSE SENSEX is up 8.1% over the year.

Current Valuations

At the current price of Rs 211.4, the price to earnings (P/E) ratio of DCB BANK stands at 17.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.9 times.

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For the quarter ended December 2019, DCB BANK has posted a net profit of Rs 967 m (up 12.3% YoY). Sales on the other hand came in at Rs 9 bn (up 15.5% YoY). Read on for a complete analysis of DCB BANK's quarterly results.

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