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DCB BANK Announces Quarterly Results (3QFY19); Net Profit Up 51.0%

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DCB BANK Announces Quarterly Results (3QFY19); Net Profit Up 51.0%
Thu, 17 Jan

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

DCB BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Operating incomeRs m6,1087,3577,7735.7%27.3%
Other incomeRs m74973594528.6%26.1%
Total revenuesRs m6,8578,0928,7187.7%27.1%
InterestRs m3,6034,5384,8376.6%34.2%
Gross Profit Rs m2,5052,8182,9364.2%17.2%
Other expensesRs m2,0292,0922,1432.4%5.6%
Profit before taxRs m8831,1421,33617.0%51.4%
TaxRs m31340847516.6%52.0%
Profit after taxRs m57073486117.2%51.0%
Gross profit margin %41.038.337.8
Effective tax rate%35.435.735.6
Net profit margin%9.310.011.1
* 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 27.3% on a year-on-year (YoY) basis. The interest expended was up by 34.2% YoY during the same period.
  • The bank's operating profit increased by 17.2% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 37.8% in 3QFY19 as against 41.0% in 3QFY18.
  • Other income increased by 26.1% YoY during the quarter.
  • Net profit for the quarter increased by 51.0% YoY. Net profit margins during the quarter increased from 9.3% in 3QFY18 to 11.1% in 3QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 5.7% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 6.6% QoQ during the same period.
  • The bank's operating profit declined by 4.2% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 37.8% in 3QFY19 as against 38.3% in 2QFY18.
  • Net profit for the quarter increased by 17.2% QoQ, while net profit margins increased from 10.0% in 2QFY18 to 11.1% in 3QFY19.

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 193.6 to Rs 184.5, registering a Loss of Rs 9.1 or around 4.7%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 30,842.0 (up 0.1%). Over the last one year it has moved up from 29,811.6 to 30,842.0, a gain of 1,030 points (up 3.5%).

Overall, the S&P BSE SENSEX is up 4.7% over the year.

Current Valuations

At the current price of Rs 184.5, 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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