FEDERAL BANK Announces Quarterly Results (3QFY20); Net Profit Up 32.1%

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FEDERAL BANK Announces Quarterly Results (3QFY20); Net Profit Up 32.1%
Tue, 21 Jan

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

FEDERAL BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-18*
3
Sep-19*
3
Dec-19*
QoQ ChangeYoY Change
Operating incomeRs m29,54432,54333,3042.3%12.7%
Other incomeRs m3,4564,2094,079-3.1%18.0%
Total revenuesRs m33,00036,75237,3821.7%13.3%
InterestRs m18,77121,30521,7542.1%15.9%
Gross Profit Rs m10,77311,23811,5492.8%7.2%
Other expensesRs m7,1508,2598,190-0.8%14.5%
Profit before taxRs m5,1774,6705,83024.8%12.6%
TaxRs m1,8415031,423182.8%-22.7%
Profit after taxRs m3,3364,1674,4065.7%32.1%
Gross profit margin %36.534.534.7
Effective tax rate%35.610.824.4
Net profit margin%11.312.813.2
* 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 12.7% on a year-on-year (YoY) basis. The interest expended was up by 15.9% YoY during the same period.
  • The bank's operating profit increased by 7.2% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 34.7% in 3QFY20 as against 36.5% in 3QFY19.
  • Other income increased by 18.0% YoY during the quarter.
  • Net profit for the quarter increased by 32.1% YoY. Net profit margins during the quarter increased from 11.3% in 3QFY19 to 13.2% in 3QFY20.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 2.3% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 2.1% QoQ during the same period.
  • The bank's operating profit increased by 2.8% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 34.7% in 3QFY20 as against 34.5% in 2QFY19.
  • Net profit for the quarter increased by 5.7% QoQ, while net profit margins increased from 12.8% in 2QFY19 to 13.2% in 3QFY20.

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

Get Details: These 3 Stocks are the Dark Horses of the Stock Market

FEDERAL BANK Share Price Performance

Over the last one year,FEDERAL BANK share price has moved up from Rs 88.8 to Rs 94.6, registering a Gain of Rs 5.8 or around 6.5%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 35,286.6 (down 0.4%). Over the last one year it has moved up from 30,770.4 to 35,286.6, a gain of 4,516 points (up 14.7%).

Overall, the S&P BSE SENSEX is up 13.1% over the year.

Current Valuations

At the current price of Rs 94.6, the price to earnings (P/E) ratio of FEDERAL BANK stands at 11.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.5 times.

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