FEDERAL BANK Announces Quarterly Results (3QFY21); Net Profit Down 8.3%

Thu, 21 Jan

FEDERAL BANK has announced its results for the quarter ended December 2020. Here is a detailed performance review of the same:

FEDERAL BANK Quarterly Financials

Year-on-Year Performance:

• The bank's operating income (interest earned) during the quarter grew 3.9% on a year-on-year (YoY) basis. The interest expended was down by 7.0% YoY during the same period.
• The bank's operating profit increased by 24.4% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 41.5% in 3QFY21 as against 34.7% in 3QFY20.
• Other income increased by 18.1% YoY during the quarter.
• Net profit for the quarter declined by 8.3% YoY. Net profit margins during the quarter declined from 13.2% in 3QFY20 to 11.7% in 3QFY21.

Quarter-on-Quarter Performance:

• The bank's operating income (interest earned) during the quarter fell 0.8% on a quarter-on-quarter (QoQ) basis. The interest expended was down by 4.1% QoQ during the same period.
• The bank's operating profit increased by 4.1% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 41.5% in 3QFY21 as against 39.6% in 2QFY20.
• Net profit for the quarter increased by 31.4% QoQ, while net profit margins increased from 8.8% in 2QFY20 to 11.7% in 3QFY21.

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 down from Rs 94.6 to Rs 77.9, registering a Loss of Rs 16.8 or around 17.7%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 37,098.4 (up 0.7%). Over the last one year it has moved up from 35,301.7 to 37,098.4, a gain of 1,797 points (up 5.1%).

Overall, the S&P BSE SENSEX is up 20.7% over the year.

Current Valuations

At the current price of Rs 77.9, the price to earnings (P/E) ratio of FEDERAL BANK stands at 10.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.3 times.