DENA BANK Announces Quarterly Results (3QFY19); Net Profit Up 53.0%

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DENA BANK Announces Quarterly Results (3QFY19); Net Profit Up 53.0%
Fri, 1 Feb

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

DENA BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Operating incomeRs m22,59821,79720,530-5.8%-9.2%
Other incomeRs m2,1623,5732,400-32.8%11.0%
Total revenuesRs m24,76025,37022,930-9.6%-7.4%
InterestRs m15,60214,54114,220-2.2%-8.9%
Gross Profit Rs m6,9967,2566,310-13.0%-9.8%
Other expensesRs m6,0626,4106,4460.6%6.3%
Profit before taxRs m-7,899-4,259-1,877
TaxRs m-4,098-92-92
Profit after taxRs m-3,801-4,167-1,785
Gross profit margin %31.033.330.7
Effective tax rate%51.92.24.9
Net profit margin%-16.8-19.1-8.7
* 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 9.2% on a year-on-year (YoY) basis. The interest expended was down by 8.9% YoY during the same period.
  • The bank's operating profit declined by 9.8% YoY during the quarter. Consequently, operating profit margins remained same and stood at 30.7% in 3QFY19.
  • Other income increased by 11.0% YoY during the quarter.
  • Net profit for the quarter increased by 53.0% YoY. Net profit margins during the quarter increased from -16.8% in 3QFY18 to -8.7% in 3QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter fell 5.8% on a quarter-on-quarter (QoQ) basis. The interest expended was down by 2.2% QoQ during the same period.
  • The bank's operating profit declined by 13.0% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 30.7% in 3QFY19 as against 33.3% in 2QFY18.
  • Net profit for the quarter increased by 57.2% QoQ, while net profit margins increased from -19.1% in 2QFY18 to -8.7% in 3QFY19.

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 24.9 to Rs 12.5, registering a Loss of Rs 12.3 or around 49.5%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 30,693.3 (down 0.1%). Over the last one year it has moved down from 30,788.4 to 30,693.3, a gain of 95 points (down 0.3%).

Overall, the S&P BSE SENSEX is up 1.2% over the year.

Current Valuations

At the current price of Rs 12.5, the price to book value (P/BV) ratio of DENA BANK stands at 0.1 times.

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For the quarter ended September 2018, DENA BANK has posted a net profit of Rs 4 bn (down 125.2% YoY). Sales on the other hand came in at Rs 22 bn (down 1.9% YoY). Read on for a complete analysis of DENA BANK's quarterly results.

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For the quarter ended June 2018, DENA BANK has posted a net profit of Rs 7 bn (up 444.1% YoY). Sales on the other hand came in at Rs 22 bn (down 5.6% YoY). Read on for a complete analysis of DENA BANK's quarterly results.

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