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DHANLAXMI BANK Announces Quarterly Results (3QFY20); Net Profit Up 25.9%

Thu, 6 Feb

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

DHANLAXMI BANK Quarterly Financials

No. of Mths Qtr. Ending		3 Dec-18*	3 Sep-19*	3 Dec-19*	QoQ Change	YoY Change
Operating income	Rs m	2,451	2,533	2,509	-1.0%	2.4%
Other income	Rs m	271	235	350	48.7%	29.2%
Total revenues	Rs m	2,722	2,769	2,859	3.3%	5.0%
Interest	Rs m	1,539	1,527	1,540	0.8%	0.1%
Gross Profit	Rs m	912	1,007	969	-3.7%	6.2%
Other expenses	Rs m	812	767	862	12.4%	6.2%
Profit before tax	Rs m	169	221	213	-3.6%	25.9%
Tax	Rs m	0	0	0	0.0%	0.0%
Profit after tax	Rs m	169	221	213	-3.6%	25.9%
Gross profit margin	%	37.2	39.7	38.6
Effective tax rate	%	0.0	0.0	0.0
Net profit margin	%	6.9	8.7	8.5

Year-on-Year Performance:

• The bank's operating income (interest earned) during the quarter grew 2.4% on a year-on-year (YoY) basis. The interest expended was up by 0.1% YoY during the same period.
• The bank's operating profit increased by 6.2% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 38.6% in 3QFY20 as against 37.2% in 3QFY19.
• Other income increased by 29.2% YoY during the quarter.
• Net profit for the quarter increased by 25.9% YoY. Net profit margins during the quarter increased from 6.9% in 3QFY19 to 8.5% in 3QFY20.

Quarter-on-Quarter Performance:

• The bank's operating income (interest earned) during the quarter fell 1.0% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 0.8% QoQ during the same period.
• The bank's operating profit declined by 3.7% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 38.6% in 3QFY20 as against 39.7% in 2QFY19.
• Net profit for the quarter declined by 3.6% QoQ, while net profit margins declined from 8.7% in 2QFY19 to 8.5% in 3QFY20.

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

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DHANLAXMI BANK Share Price Performance

Over the last one year,DHANLAXMI BANK share price has moved down from Rs 16.0 to Rs 14.5, registering a Loss of Rs 1.5 or around 9.3%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 35,428.8 (down 0.1%). Over the last one year it has moved up from 30,704.5 to 35,428.8, a gain of 4,724 points (up 15.4%).

Overall, the S&P BSE SENSEX is up 12.4% over the year.

Current Valuations

At the current price of Rs 14.5, the price to earnings (P/E) ratio of DHANLAXMI BANK stands at 2.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.5 times.