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.

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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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