FEDERAL BANK Announces Quarterly Results (4QFY19); Net Profit Up 163.1%

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FEDERAL BANK Announces Quarterly Results (4QFY19); Net Profit Up 163.1%
Tue, 7 May

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

FEDERAL BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Operating incomeRs m25,48029,54430,3232.6%19.0%
Other incomeRs m3,1423,4564,11719.1%31.1%
Total revenuesRs m28,62133,00034,4404.4%20.3%
InterestRs m16,14818,77119,3583.1%19.9%
Gross Profit Rs m9,33210,77310,9651.8%17.5%
Other expensesRs m6,5887,1507,5355.4%14.4%
Profit before taxRs m2,1705,1775,77011.5%165.8%
TaxRs m7211,8411,9556.2%171.3%
Profit after taxRs m1,4503,3363,81514.4%163.1%
Gross profit margin %36.636.536.2
Effective tax rate%33.235.633.9
Net profit margin%5.711.312.6
* 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 19.0% on a year-on-year (YoY) basis. The interest expended was up by 19.9% YoY during the same period.
  • The bank's operating profit increased by 17.5% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 36.2% in 4QFY19 as against 36.6% in 4QFY18.
  • Other income increased by 31.1% YoY during the quarter.
  • Net profit for the quarter increased by 163.1% YoY. Net profit margins during the quarter increased from 5.7% in 4QFY18 to 12.6% in 4QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 2.6% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 3.1% QoQ during the same period.
  • The bank's operating profit declined by 1.8% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 36.2% in 4QFY19 as against 36.5% in 3QFY18.
  • Net profit for the quarter increased by 14.4% QoQ, while net profit margins increased from 11.3% in 3QFY18 to 12.6% in 4QFY19.

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

FEDERAL BANK Share Price Performance

Over the last one year, FEDERAL BANK share price has moved up from Rs 101.4 to Rs 100.4, registering a Loss of Rs 1.0 or around 1.0%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 33,125.5 (up 0.0%). Over the last one year it has moved up from 28,983.3 to 33,125.5, a gain of 4,142 points (up 14.3%).

Overall, the S&P BSE SENSEX is up 9.8% over the year.

Current Valuations

At the current price of Rs 100.4, the price to earnings (P/E) ratio of FEDERAL BANK stands at 16.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.6 times.

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