FEDERAL BANK Announces Quarterly Results (2QFY20); Net Profit Up 56.6%

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FEDERAL BANK Announces Quarterly Results (2QFY20); Net Profit Up 56.6%
Fri, 18 Oct

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

FEDERAL BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Operating incomeRs m27,64932,29332,5430.8%17.7%
Other incomeRs m3,2293,9154,2097.5%30.4%
Total revenuesRs m30,87836,20836,7521.5%19.0%
InterestRs m17,42520,75121,3052.7%22.3%
Gross Profit Rs m10,22511,54211,238-2.6%9.9%
Other expensesRs m6,4787,6298,2598.3%27.5%
Profit before taxRs m4,0885,9074,670-20.9%14.2%
TaxRs m1,4272,065503-75.6%-64.7%
Profit after taxRs m2,6603,8424,1678.5%56.6%
Gross profit margin %37.035.734.5
Effective tax rate%34.935.010.8
Net profit margin%9.611.912.8
* 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 17.7% on a year-on-year (YoY) basis. The interest expended was up by 22.3% YoY during the same period.
  • The bank's operating profit increased by 9.9% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 34.5% in 2QFY20 as against 37.0% in 2QFY19.
  • Other income increased by 30.4% YoY during the quarter.
  • Net profit for the quarter increased by 56.6% YoY. Net profit margins during the quarter increased from 9.6% in 2QFY19 to 12.8% in 2QFY20.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 0.8% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 2.7% QoQ during the same period.
  • The bank's operating profit declined by 2.6% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 34.5% in 2QFY20 as against 35.7% in 1QFY19.
  • Net profit for the quarter increased by 8.5% QoQ, while net profit margins increased from 11.9% in 1QFY19 to 12.8% in 2QFY20.

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 78.6 to Rs 84.4, registering a Gain of Rs 5.8 or around 7.4%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 32,820.2 (up 0.1%). Over the last one year it has moved up from 28,162.2 to 32,820.2, a gain of 4,658 points (up 16.5%).

Overall, the S&P BSE SENSEX is up 12.7% over the year.

Current Valuations

At the current price of Rs 84.4, 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 1.4 times.

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