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DHANLAXMI BANK Announces Quarterly Results (4QFY19); Net Profit Up 260.9%

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DHANLAXMI BANK Announces Quarterly Results (4QFY19); Net Profit Up 260.9%
Fri, 10 May

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

DHANLAXMI BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Operating incomeRs m2,4642,4512,418-1.3%-1.9%
Other incomeRs m2972712710.2%-8.7%
Total revenuesRs m2,7612,7222,690-1.2%-2.6%
InterestRs m1,6071,5391,5490.6%-3.7%
Gross Profit Rs m857912870-4.6%1.5%
Other expensesRs m525812702-13.5%33.9%
Profit before taxRs m-17216927663.4%
TaxRs m0000.0%0.0%
Profit after taxRs m-17216927663.4%
Gross profit margin %34.837.236.0
Effective tax rate%0.00.00.0
Net profit margin%-7.06.911.4
* 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 1.9% on a year-on-year (YoY) basis. The interest expended was down by 3.7% YoY during the same period.
  • The bank's operating profit increased by 1.5% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 36.0% in 4QFY19 as against 34.8% in 4QFY18.
  • Other income declined by 8.7% YoY during the quarter.
  • Net profit for the quarter increased by 260.9% YoY. Net profit margins during the quarter increased from -7.0% in 4QFY18 to 11.4% in 4QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter fell 1.3% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 0.6% QoQ during the same period.
  • The bank's operating profit declined by 4.6% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 36.0% in 4QFY19 as against 37.2% in 3QFY18.
  • Net profit for the quarter increased by 63.4% QoQ, while net profit margins increased from 6.9% in 3QFY18 to 11.4% in 4QFY19.

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 21.1 to Rs 19.0, registering a Loss of Rs 2.1 or around 10.0%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 32,455.3 (up 0.6%). Over the last one year it has moved up from 29,357.7 to 32,455.3, a gain of 3,098 points (up 10.6%).

Overall, the S&P BSE SENSEX is up 6.7% over the year.

Current Valuations

At the current price of Rs 19.0, the price to earnings (P/E) ratio of DHANLAXMI BANK stands at 28.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.7 times.

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