DHANLAXMI BANK Announces Quarterly Results (2QFY19); Net Profit Up 100.5%

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DHANLAXMI BANK Announces Quarterly Results (2QFY19); Net Profit Up 100.5%
Mon, 12 Nov

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

DHANLAXMI BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Operating incomeRs m2,5922,3992,4472.0%-5.6%
Other incomeRs m2311651798.9%-22.6%
Total revenuesRs m2,8232,5642,6262.4%-7.0%
InterestRs m1,6821,5881,572-1.0%-6.6%
Gross Profit Rs m9098118747.8%-3.8%
Other expensesRs m841776756-2.6%-10.2%
Profit before taxRs m61-450122100.5%
TaxRs m0000.0%0.0%
Profit after taxRs m61-450122100.5%
Gross profit margin %35.133.835.7
Effective tax rate%0.00.00.0
Net profit margin%2.3-18.85.0
* 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 5.6% on a year-on-year (YoY) basis. The interest expended was down by 6.6% YoY during the same period.
  • The bank's operating profit declined by 3.8% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 35.7% in 2QFY19 as against 35.1% in 2QFY18.
  • Other income declined by 22.6% YoY during the quarter.
  • Net profit for the quarter increased by 100.5% YoY. Net profit margins during the quarter increased from 2.3% in 2QFY18 to 5.0% in 2QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 2.0% on a quarter-on-quarter (QoQ) basis. The interest expended was down by 1.0% QoQ during the same period.
  • The bank's operating profit increased by 7.8% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 35.7% in 2QFY19 as against 33.8% in 1QFY18.
  • Net profit for the quarter increased by 127.0% QoQ, while net profit margins increased from -18.8% in 1QFY18 to 5.0% in 2QFY19.

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

DHANLAXMI BANK Share Price Performance

Over the last one year, DHANLAXMI BANK share price has moved up from Rs 36.7 to Rs 17.2, registering a Loss of Rs 19.6 or around 53.3%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 29,076.8 (down 0.1%). Over the last one year it has moved up from 28,920.9 to 29,076.8, a gain of 156 points (up 0.5%).

Overall, the S&P BSE SENSEX is up 5.8% over the year.

Current Valuations

At the current price of Rs 17.2, the price to book value (P/BV) ratio of DHANLAXMI BANK stands at 0.5 times.

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