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GRUH FINANCE Announces Quarterly Results (2QFY19); Net Profit Up 35.6%

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GRUH FINANCE Announces Quarterly Results (2QFY19); Net Profit Up 35.6%
Fri, 9 Nov

GRUH FINANCE has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

GRUH FINANCE Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Operating incomeRs m4,1414,5224,8056.3%16.1%
Other incomeRs m001630.0%0.0%
Total revenuesRs m4,1414,5224,9699.9%20.0%
InterestRs m2,4152,6342,89810.0%20.0%
Gross Profit Rs m1,7181,8791,8991.0%10.5%
Other expensesRs m52432243936.3%-16.2%
Profit before taxRs m1,1941,5571,460-6.3%22.3%
TaxRs m416406405-0.3%-2.8%
Profit after taxRs m7781,1511,055-8.4%35.6%
Gross profit margin %41.541.639.5
Effective tax rate%34.926.127.7
Net profit margin%18.825.522.0
* 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 16.1% on a year-on-year (YoY) basis. The interest expended was up by 20.0% YoY during the same period.
  • The bank's operating profit increased by 10.5% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 39.5% in 2QFY19 as against 41.5% in 2QFY18.
  • Other income increased by 0.0% YoY during the quarter.
  • Net profit for the quarter increased by 35.6% YoY. Net profit margins during the quarter increased from 18.8% in 2QFY18 to 22.0% in 2QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 6.3% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 10.0% QoQ during the same period.
  • The bank's operating profit declined by 1.0% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 39.5% in 2QFY19 as against 41.6% in 1QFY18.
  • Net profit for the quarter declined by 8.4% QoQ, while net profit margins declined from 25.5% in 1QFY18 to 22.0% in 2QFY19.

To see how GRUH FINANCE has performed over the last eight quarters, please visit here.

GRUH FINANCE Share Price Performance

Over the last one year, GRUH FINANCE share price has moved up from Rs 243.6 to Rs 299.5, registering a Gain of Rs 55.9 or around 23.0%.

Overall, the S&P BSE SENSEX is up 5.3% over the year.

Current Valuations

At the current price of Rs 299.5, the price to earnings (P/E) ratio of GRUH FINANCE stands at 50.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 15.9 times.

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