ICICI BANK Announces Quarterly Results (3QFY20); Net Profit Up 158.4%

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ICICI BANK Announces Quarterly Results (3QFY20); Net Profit Up 158.4%
Mon, 27 Jan

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

ICICI BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-18*
3
Sep-19*
3
Dec-19*
QoQ ChangeYoY Change
Operating incomeRs m162,804185,653190,6432.7%17.1%
Other incomeRs m38,82941,94245,7409.1%17.8%
Total revenuesRs m201,633227,595236,3833.9%17.2%
InterestRs m94,052105,079105,1900.1%11.8%
Gross Profit Rs m68,75380,57485,4536.1%24.3%
Other expensesRs m46,11753,77655,7073.6%20.8%
Profit before taxRs m19,02343,67254,65425.1%187.3%
TaxRs m2,97437,12313,190-64.5%343.6%
Profit after taxRs m16,0496,55041,465533.1%158.4%
Gross profit margin %42.243.444.8
Effective tax rate%15.685.024.1
Net profit margin%9.93.521.7
* 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 17.1% on a year-on-year (YoY) basis. The interest expended was up by 11.8% YoY during the same period.
  • The bank's operating profit increased by 24.3% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 44.8% in 3QFY20 as against 42.2% in 3QFY19.
  • Other income increased by 17.8% YoY during the quarter.
  • Net profit for the quarter increased by 158.4% YoY. Net profit margins during the quarter increased from 9.9% in 3QFY19 to 21.7% in 3QFY20.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 2.7% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 0.1% QoQ during the same period.
  • The bank's operating profit increased by 6.1% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 44.8% in 3QFY20 as against 43.4% in 2QFY19.
  • Net profit for the quarter increased by 533.1% QoQ, while net profit margins increased from 3.5% in 2QFY19 to 21.7% in 3QFY20.

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

Get Details: These 3 Stocks are the Dark Horses of the Stock Market

ICICI BANK Share Price Performance

Over the last one year,ICICI BANK share price has moved up from Rs 357.1 to Rs 542.5, registering a Gain of Rs 185.4 or around 51.9%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 35,580.1 (down 0.2%). Over the last one year it has moved up from 30,377.5 to 35,580.1, a gain of 5,203 points (up 17.1%).

Overall, the S&P BSE SENSEX is up 14.5% over the year.

Current Valuations

At the current price of Rs 542.5, the price to earnings (P/E) ratio of ICICI BANK stands at 45.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.0 times.

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