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.

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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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