DENA BANK Announces Quarterly Results (2QFY19); Net Profit Down 125.2%

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DENA BANK Announces Quarterly Results (2QFY19); Net Profit Down 125.2%
Tue, 6 Nov

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

DENA BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Operating incomeRs m22,22122,48621,797-3.1%-1.9%
Other incomeRs m3,8681,6143,573121.4%-7.6%
Total revenuesRs m26,08824,10025,3705.3%-2.8%
InterestRs m16,21415,05914,541-3.4%-10.3%
Gross Profit Rs m6,0077,4277,256-2.3%20.8%
Other expensesRs m5,9016,4426,410-0.5%8.6%
Profit before taxRs m-3,393-8,588-4,259
TaxRs m-1,543-1,371-92
Profit after taxRs m-1,850-7,217-4,167
Gross profit margin %27.033.033.3
Effective tax rate%45.516.02.2
Net profit margin%-8.3-32.1-19.1
* 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 fell 1.9% on a year-on-year (YoY) basis. The interest expended was down by 10.3% YoY during the same period.
  • The bank's operating profit increased by 20.8% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 33.3% in 2QFY19 as against 27.0% in 2QFY18.
  • Other income declined by 7.6% YoY during the quarter.
  • Net profit for the quarter declined by 125.2% YoY. Net profit margins during the quarter declined from -8.3% in 2QFY18 to -19.1% in 2QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter fell 3.1% on a quarter-on-quarter (QoQ) basis. The interest expended was down by 3.4% QoQ during the same period.
  • The bank's operating profit increased by 2.3% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 33.3% in 2QFY19 as against 33.0% in 1QFY18.
  • Net profit for the quarter increased by 42.3% QoQ, while net profit margins increased from -32.1% in 1QFY18 to -19.1% in 2QFY19.

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

DENA BANK Share Price Performance

Over the last one year, DENA BANK share price has moved up from Rs 27.5 to Rs 17.3, registering a Loss of Rs 10.3 or around 37.3%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 29,050.3 (down 0.0%). Over the last one year it has moved up from 28,997.4 to 29,050.3, a gain of 53 points (up 0.2%).

Overall, the S&P BSE SENSEX is up 4.1% over the year.

Current Valuations

At the current price of Rs 17.3, the price to book value (P/BV) ratio of DENA BANK stands at 0.1 times.

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