FEDERAL BANK Announces Quarterly Results (4QFY20); Net Profit Down 21.0%

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FEDERAL BANK Announces Quarterly Results (4QFY20); Net Profit Down 21.0%
Mon, 1 Jun

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

FEDERAL BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-19*
3
Dec-19*
3
Mar-20*
QoQ ChangeYoY Change
Operating incomeRs m30,32333,30433,9682.0%12.0%
Other incomeRs m4,1174,0797,11174.4%72.7%
Total revenuesRs m34,44037,38241,0809.9%19.3%
InterestRs m19,35821,75421,8080.2%12.7%
Gross Profit Rs m10,96511,54912,1605.3%10.9%
Other expensesRs m7,5358,1909,67818.2%28.4%
Profit before taxRs m5,7705,8303,918-32.8%-32.1%
TaxRs m1,9551,423906-36.3%-53.7%
Profit after taxRs m3,8154,4063,012-31.6%-21.0%
Gross profit margin %36.234.735.8
Effective tax rate%33.924.423.1
Net profit margin%12.613.28.9
* 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 12.0% on a year-on-year (YoY) basis. The interest expended was up by 12.7% YoY during the same period.
  • The bank's operating profit increased by 10.9% YoY during the quarter. Consequently, operating profit margins remained same and stood at 35.8% in 4QFY20.
  • Other income increased by 72.7% YoY during the quarter.
  • Net profit for the quarter declined by 21.0% YoY. Net profit margins during the quarter declined from 12.6% in 4QFY19 to 8.9% in 4QFY20.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 2.0% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 0.2% QoQ during the same period.
  • The bank's operating profit increased by 5.3% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 35.8% in 4QFY20 as against 34.7% in 3QFY19.
  • Net profit for the quarter declined by 31.6% QoQ, while net profit margins declined from 13.2% in 3QFY19 to 8.9% in 4QFY20.

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 107.2 to Rs 46.1, registering a Loss of Rs 61.1 or around 57.0%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 22,981.3 (up 3.8%). Over the last one year it has moved down from 35,264.0 to 22,981.3, a loss of 12,283 points (down 34.8%).

Overall, the S&P BSE SENSEX is down 15.8% over the year.

Current Valuations

At the current price of Rs 46.1, the price to earnings (P/E) ratio of FEDERAL BANK stands at 5.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.7 times.

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