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ICICI BANK Announces Quarterly Results (1QFY19); Net Profit Down 105.8%

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ICICI BANK Announces Quarterly Results (1QFY19); Net Profit Down 105.8%
Tue, 31 Jul

ICICI BANK has announced its results for the quarter ended June 2018. Here is a detailed performance review of the same:

ICICI BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-17*
3
Mar-18*
3
Jun-18*
QoQ ChangeYoY Change
Operating incomeRs m134,591142,644147,2243.2%9.4%
Other incomeRs m33,87956,78638,518-32.2%13.7%
Total revenuesRs m168,470199,430185,742-6.9%10.3%
InterestRs m78,69382,42786,2054.6%9.5%
Gross Profit Rs m55,89860,21761,0191.3%9.2%
Other expensesRs m37,94441,86341,453-1.0%9.2%
Profit before taxRs m25,7468,882-1,629-118.3%-106.3%
TaxRs m5,256-1,318-434-108.3%
Profit after taxRs m20,49010,200-1,196-111.7%-105.8%
Gross profit margin %41.542.241.4
Effective tax rate%20.4-14.826.6
Net profit margin%15.27.2-0.8
* 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 9.4% on a year-on-year (YoY) basis. The interest expended was up by 9.5% YoY during the same period.
  • The bank's operating profit increased by 9.2% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 41.4% in 1QFY19 as against 41.5% in 1QFY18.
  • Other income increased by 13.7% YoY during the quarter.
  • Net profit for the quarter declined by 105.8% YoY. Net profit margins during the quarter declined from 15.2% in 1QFY18 to -0.8% in 1QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 3.2% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 4.6% QoQ during the same period.
  • The bank's operating profit declined by 1.3% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 41.4% in 1QFY19 as against 42.2% in 4QFY18.
  • Net profit for the quarter declined by 111.7% QoQ, while net profit margins declined from 7.2% in 4QFY18 to -0.8% in 1QFY19.

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

ICICI BANK Share Price Performance

Over the last one year, ICICI BANK share price has moved up from Rs 302.0 to Rs 303.5, registering a Gain of Rs 1.5 or around 0.5%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 30,990.9 (down 0.5%). Over the last one year it has moved up from 28,386.5 to 30,990.9, a gain of 2,604 points (up 9.2%).

Overall, the S&P BSE SENSEX is down 0.3% over the year.

Current Valuations

At the current price of Rs 303.5, the price to earnings (P/E) ratio of ICICI BANK stands at 42.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.9 times.

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