FEDERAL BANK Announces Quarterly Results (1QFY20); Net Profit Up 46.2%

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FEDERAL BANK Announces Quarterly Results (1QFY20); Net Profit Up 46.2%
Fri, 19 Jul

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

FEDERAL BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Operating incomeRs m26,67430,32332,2936.5%21.1%
Other incomeRs m2,7094,1173,915-4.9%44.5%
Total revenuesRs m29,38234,44036,2085.1%23.2%
InterestRs m16,87319,35820,7517.2%23.0%
Gross Profit Rs m9,80110,96511,5425.3%17.8%
Other expensesRs m6,4807,5357,6291.3%17.7%
Profit before taxRs m4,0385,7705,9072.4%46.3%
TaxRs m1,4111,9552,0655.6%46.4%
Profit after taxRs m2,6273,8153,8420.7%46.2%
Gross profit margin %36.736.235.7
Effective tax rate%34.933.935.0
Net profit margin%9.812.611.9
* 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 21.1% on a year-on-year (YoY) basis. The interest expended was up by 23.0% YoY during the same period.
  • The bank's operating profit increased by 17.8% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 35.7% in 1QFY20 as against 36.7% in 1QFY19.
  • Other income increased by 44.5% YoY during the quarter.
  • Net profit for the quarter increased by 46.2% YoY. Net profit margins during the quarter increased from 9.8% in 1QFY19 to 11.9% in 1QFY20.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 6.5% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 7.2% QoQ during the same period.
  • The bank's operating profit declined by 5.3% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 35.7% in 1QFY20 as against 36.2% in 4QFY19.
  • Net profit for the quarter increased by 0.7% QoQ, while net profit margins declined from 12.6% in 4QFY19 to 11.9% in 1QFY20.

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

FEDERAL BANK Share Price Performance

Over the last one year,FEDERAL BANK share price has moved up from Rs 85.9 to Rs 98.8, registering a Gain of Rs 13.0 or around 15.1%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 34,094.6 (down 0.3%). Over the last one year it has moved up from 29,605.7 to 34,094.6, a gain of 4,489 points (up 15.2%).

Overall, the S&P BSE SENSEX is up 6.8% over the year.

Current Valuations

At the current price of Rs 98.8, the price to earnings (P/E) ratio of FEDERAL BANK stands at 14.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.6 times.

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