DCB BANK Announces Quarterly Results (1QFY21); Net Profit Down 2.1%

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DCB BANK Announces Quarterly Results (1QFY21); Net Profit Down 2.1%
Mon, 10 Aug

DCB BANK has announced its results for the quarter ended June 2020. Here is a detailed performance review of the same:

DCB BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-19*
3
Mar-20*
3
Jun-20*
QoQ ChangeYoY Change
Operating incomeRs m8,5779,0198,731-3.2%1.8%
Other incomeRs m8681,099776-29.4%-10.6%
Total revenuesRs m9,44510,1189,507-6.0%0.7%
InterestRs m5,5305,7825,664-2.0%2.4%
Gross Profit Rs m3,0483,2373,067-5.2%0.6%
Other expensesRs m2,2502,2151,932-12.8%-14.1%
Profit before taxRs m1,2599381,07514.5%-14.7%
TaxRs m44825128111.9%-37.4%
Profit after taxRs m81168879415.4%-2.1%
Gross profit margin %35.535.935.1
Effective tax rate%35.626.726.1
Net profit margin%9.57.69.1
* 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 1.8% on a year-on-year (YoY) basis. The interest expended was up by 2.4% YoY during the same period.
  • The bank's operating profit increased by 0.6% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 35.1% in 1QFY21 as against 35.5% in 1QFY20.
  • Other income declined by 10.6% YoY during the quarter.
  • Net profit for the quarter declined by 2.1% YoY. Net profit margins during the quarter declined from 9.5% in 1QFY20 to 9.1% in 1QFY21.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter fell 3.2% on a quarter-on-quarter (QoQ) basis. The interest expended was down by 2.0% QoQ during the same period.
  • The bank's operating profit declined by 5.2% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 35.1% in 1QFY21 as against 35.9% in 4QFY20.
  • Net profit for the quarter increased by 15.4% QoQ, while net profit margins increased from 7.6% in 4QFY20 to 9.1% in 1QFY21.

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

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DCB BANK Share Price Performance

Over the last one year,DCB BANK share price has moved down from Rs 198.0 to Rs 82.3, registering a Loss of Rs 115.7 or around 58.4%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 24,957.4 (up 1.1%). Over the last one year it has moved down from 32,114.9 to 24,957.4, a gain of 7,158 points (down 22.3%).

Overall, the S&P BSE SENSEX is up 4.5% over the year.

Current Valuations

At the current price of Rs 82.3, the price to earnings (P/E) ratio of DCB BANK stands at 6.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.7 times.

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For the quarter ended September 2020, DCB BANK has posted a net profit of Rs 823 m (down 10.0% YoY). Sales on the other hand came in at Rs 9 bn (down 0.1% YoY). Read on for a complete analysis of DCB BANK's quarterly results.

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Nov 26, 2020 03:08 PM

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