DHFL Announces Quarterly Results (3QFY19); Net Profit Up 2.5%

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DHFL Announces Quarterly Results (3QFY19); Net Profit Up 2.5%
Mon, 28 Jan

DHFL has announced its results for the quarter ended December 2018. Here is a detailed performance review of the same:

DHFL Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Operating incomeRs m26,31635,15732,509-7.5%23.5%
Other incomeRs m26365039.0%87.5%
Total revenuesRs m26,34235,19232,559-7.5%23.6%
InterestRs m18,94451324,1034595.7%27.2%
Gross Profit Rs m7,29934,5258,276-76.0%13.4%
Other expensesRs m2,70828,2323,610-87.2%33.3%
Profit before taxRs m4,6176,3294,715-25.5%2.1%
TaxRs m1,5581,9411,579-18.7%1.4%
Profit after taxRs m3,0604,3873,136-28.5%2.5%
Gross profit margin %27.798.225.5
Effective tax rate%33.730.733.5
Net profit margin%11.612.59.6
* 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 23.5% on a year-on-year (YoY) basis. The interest expended was up by 27.2% YoY during the same period.
  • The bank's operating profit increased by 13.4% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 25.5% in 3QFY19 as against 27.7% in 3QFY18.
  • Other income increased by 87.5% YoY during the quarter.
  • Net profit for the quarter increased by 2.5% YoY. Net profit margins during the quarter declined from 11.6% in 3QFY18 to 9.6% in 3QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter fell 7.5% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 4595.7% QoQ during the same period.
  • The bank's operating profit declined by 76.0% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 25.5% in 3QFY19 as against 98.2% in 2QFY18.
  • Net profit for the quarter declined by 28.5% QoQ, while net profit margins declined from 12.5% in 2QFY18 to 9.6% in 3QFY19.

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

DHFL Share Price Performance

Over the last one year, DHFL share price has moved up from Rs 596.2 to Rs 194.5, registering a Loss of Rs 401.7 or around 67.4%.

Overall, the S&P BSE SENSEX is down 0.6% over the year.

Current Valuations

At the current price of Rs 194.5, the price to earnings (P/E) ratio of DHFL stands at 3.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.7 times.

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