GRUH FINANCE Announces Quarterly Results (3QFY19); Net Profit Up 18.0%

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GRUH FINANCE Announces Quarterly Results (3QFY19); Net Profit Up 18.0%
Mon, 28 Jan

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

GRUH FINANCE Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Operating incomeRs m4,2854,8055,40112.4%26.0%
Other incomeRs m01630-100.0%0.0%
Total revenuesRs m4,2854,9695,4018.7%26.0%
InterestRs m2,5122,8983,73428.9%48.7%
Gross Profit Rs m1,7651,8991,658-12.7%-6.1%
Other expensesRs m485439308-30.0%-36.5%
Profit before taxRs m1,2811,4601,350-7.5%5.4%
TaxRs m459405381-6.0%-17.1%
Profit after taxRs m8221,055970-8.1%18.0%
Gross profit margin %41.239.530.7
Effective tax rate%35.827.728.2
Net profit margin%19.222.018.0
* 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 26.0% on a year-on-year (YoY) basis. The interest expended was up by 48.7% YoY during the same period.
  • The bank's operating profit declined by 6.1% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 30.7% in 3QFY19 as against 41.2% in 3QFY18.
  • Other income increased by 0.0% YoY during the quarter.
  • Net profit for the quarter increased by 18.0% YoY. Net profit margins during the quarter declined from 19.2% in 3QFY18 to 18.0% in 3QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 12.4% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 28.9% QoQ during the same period.
  • The bank's operating profit declined by 12.7% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 30.7% in 3QFY19 as against 39.5% in 2QFY18.
  • Net profit for the quarter declined by 8.1% QoQ, while net profit margins declined from 22.0% in 2QFY18 to 18.0% in 3QFY19.

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 295.9 to Rs 220.0, registering a Loss of Rs 75.9 or around 25.7%.

Overall, the S&P BSE SENSEX is down 0.6% over the year.

Current Valuations

At the current price of Rs 220.0, the price to earnings (P/E) ratio of GRUH FINANCE stands at 35.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 11.7 times.

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