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

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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 ChangeYoY Change
Operating incomeRs m2,4512,5332,509-1.0%2.4%
Other incomeRs m27123535048.7%29.2%
Total revenuesRs m2,7222,7692,8593.3%5.0%
InterestRs m1,5391,5271,5400.8%0.1%
Gross Profit Rs m9121,007969-3.7%6.2%
Other expensesRs m81276786212.4%6.2%
Profit before taxRs m169221213-3.6%25.9%
TaxRs m0000.0%0.0%
Profit after taxRs m169221213-3.6%25.9%
Gross profit margin %37.239.738.6
Effective tax rate%0.00.00.0
Net profit margin%6.98.78.5
* 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 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.

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