DHANLAXMI BANK Announces Quarterly Results (2QFY20); Net Profit Up 81.6%

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DHANLAXMI BANK Announces Quarterly Results (2QFY20); Net Profit Up 81.6%
Mon, 4 Nov

DHANLAXMI BANK has announced its results for the quarter ended September 2019. Here is a detailed performance review of the same:

DHANLAXMI BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Operating incomeRs m2,4472,4042,5335.4%3.6%
Other incomeRs m17916323544.1%31.2%
Total revenuesRs m2,6262,5682,7697.8%5.4%
InterestRs m1,5721,5031,5271.6%-2.9%
Gross Profit Rs m8749011,00711.7%15.1%
Other expensesRs m756773767-0.8%1.5%
Profit before taxRs m12219822111.2%81.6%
TaxRs m0000.0%0.0%
Profit after taxRs m12219822111.2%81.6%
Gross profit margin %35.737.539.7
Effective tax rate%0.00.00.0
Net profit margin%5.08.38.7
* 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 grew 3.6% on a year-on-year (YoY) basis. The interest expended was down by 2.9% YoY during the same period.
  • The bank's operating profit increased by 15.1% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 39.7% in 2QFY20 as against 35.7% in 2QFY19.
  • Other income increased by 31.2% YoY during the quarter.
  • Net profit for the quarter increased by 81.6% YoY. Net profit margins during the quarter increased from 5.0% in 2QFY19 to 8.7% in 2QFY20.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 5.4% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 1.6% QoQ during the same period.
  • The bank's operating profit increased by 11.7% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 39.7% in 2QFY20 as against 37.5% in 1QFY19.
  • Net profit for the quarter increased by 11.2% QoQ, while net profit margins increased from 8.2% in 1QFY19 to 8.7% in 2QFY20.

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

Get Details: These 3 Stocks are the Dark Horses of the Stock Market

DHANLAXMI BANK Share Price Performance

Over the last one year,DHANLAXMI BANK share price has moved down from Rs 17.3 to Rs 15.8, registering a Loss of Rs 1.5 or around 8.7%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 34,493.5 (up 0.8%). Over the last one year it has moved up from 29,016.4 to 34,493.5, a gain of 5,477 points (up 18.9%).

Overall, the S&P BSE SENSEX is up 17.2% over the year.

Current Valuations

At the current price of Rs 15.8, the price to earnings (P/E) ratio of DHANLAXMI BANK stands at 3.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.6 times.

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