FEDERAL BANK Announces Quarterly Results (1QFY22); Net Profit Down 13.6%

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FEDERAL BANK Announces Quarterly Results (1QFY22); Net Profit Down 13.6%
Mon, 26 Jul

FEDERAL BANK has announced its results for the quarter ended June 2021. Here is a detailed performance review of the same:

FEDERAL BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-20*
3
Mar-21*
3
Jun-21*
QoQ ChangeYoY Change
Operating incomeRs m35,72135,15935,2500.3%-1.3%
Other incomeRs m4,8334,8066,22829.6%28.9%
Total revenuesRs m40,55439,96441,4783.8%2.3%
InterestRs m21,96620,03220,002-0.2%-8.9%
Gross Profit Rs m13,75615,12715,2480.8%10.9%
Other expensesRs m8,96010,6489,896-7.1%10.4%
Profit before taxRs m5,5366,7284,871-27.6%-12.0%
TaxRs m1,4201,7251,315-23.8%-7.4%
Profit after taxRs m4,1165,0033,556-28.9%-13.6%
Gross profit margin %38.543.043.3
Effective tax rate%25.625.627.0
Net profit margin%11.514.210.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster


Year-on-Year Performance:
  • The bank's operating income (interest earned) during the quarter fell 1.3% on a year-on-year (YoY) basis. The interest expended was down by 8.9% YoY during the same period.
  • The bank's operating profit increased by 10.9% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 43.3% in 1QFY22 as against 38.5% in 1QFY21.
  • Other income increased by 28.9% YoY during the quarter.
  • Net profit for the quarter declined by 13.6% YoY. Net profit margins during the quarter declined from 11.5% in 1QFY21 to 10.1% in 1QFY22.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 0.3% on a quarter-on-quarter (QoQ) basis. The interest expended was down by 0.2% QoQ during the same period.
  • The bank's operating profit increased by 0.8% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 43.3% in 1QFY22 as against 43.0% in 4QFY21.
  • Net profit for the quarter declined by 28.9% QoQ, while net profit margins declined from 14.2% in 4QFY21 to 10.1% in 1QFY22.

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

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FEDERAL BANK Share Price Performance

Over the last one year, FEDERAL BANK share price has moved up from Rs 57.5 to Rs 87.4, registering a Gain of Rs 29.9 or around 51.9%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 39,774.9 (down 0.1%). Over the last one year it has moved up from 25,684.4 to 39,774.9, a gain of 14,090 points (up 54.9%).

Overall, the S&P BSE SENSEX is up 39.5% over the year.

Current Valuations

At the current price of Rs 87.4, the price to earnings (P/E) ratio of FEDERAL BANK stands at 11.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.1 times.

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