FEDERAL BANK Announces Quarterly Results (2QFY22); Net Profit Up 54.6%

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FEDERAL BANK Announces Quarterly Results (2QFY22); Net Profit Up 54.6%
Tue, 26 Oct

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

FEDERAL BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-20*
3
Jun-21*
3
Sep-21*
QoQ ChangeYoY Change
Operating incomeRs m36,21935,25035,6631.2%-1.5%
Other incomeRs m4,4956,2284,472-28.2%-0.5%
Total revenuesRs m40,71441,47840,135-3.2%-1.4%
InterestRs m21,59420,00219,595-2.0%-9.3%
Gross Profit Rs m14,62515,24816,0685.4%9.9%
Other expensesRs m9,2719,89611,32914.5%22.2%
Profit before taxRs m4,1944,8716,56634.8%56.6%
TaxRs m1,0371,3151,68628.2%62.6%
Profit after taxRs m3,1573,5564,88037.2%54.6%
Gross profit margin %40.443.345.1
Effective tax rate%24.727.025.7
Net profit margin%8.710.113.7
* 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 1.5% on a year-on-year (YoY) basis. The interest expended was down by 9.3% YoY during the same period.
  • The bank's operating profit increased by 9.9% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 45.1% in 2QFY22 as against 40.4% in 2QFY21.
  • Other income declined by 0.5% YoY during the quarter.
  • Net profit for the quarter increased by 54.6% YoY. Net profit margins during the quarter increased from 8.7% in 2QFY21 to 13.7% in 2QFY22.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 1.2% on a quarter-on-quarter (QoQ) basis. The interest expended was down by 2.0% QoQ during the same period.
  • The bank's operating profit increased by 5.4% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 45.1% in 2QFY22 as against 43.3% in 1QFY21.
  • Net profit for the quarter increased by 37.2% QoQ, while net profit margins increased from 10.1% in 1QFY21 to 13.7% in 2QFY22.

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 54.2 to Rs 101.9, registering a Gain of Rs 47.8 or around 88.2%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 47,168.7 (up 0.0%). Over the last one year it has moved up from 27,413.2 to 47,168.7, a gain of 19,755 points (up 72.1%).

Overall, the S&P BSE SENSEX is up 51.0% over the year.

Current Valuations

At the current price of Rs 101.9, the price to earnings (P/E) ratio of FEDERAL BANK stands at 11.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.2 times.

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