ICICI BANK Announces Quarterly Results (4QFY19); Net Profit Down 5.0%

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ICICI BANK Announces Quarterly Results (4QFY19); Net Profit Down 5.0%
Wed, 8 May

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

ICICI BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Operating incomeRs m142,644162,804172,9286.2%21.2%
Other incomeRs m56,78638,82936,210-6.7%-36.2%
Total revenuesRs m199,430201,633209,1383.7%4.9%
InterestRs m82,42794,05296,7272.8%17.3%
Gross Profit Rs m60,21768,75376,20110.8%26.5%
Other expensesRs m41,86346,11750,0778.6%19.6%
Profit before taxRs m8,88219,0237,820-58.9%-12.0%
TaxRs m-1,3182,974-1,871-162.9%
Profit after taxRs m10,20016,0499,691-39.6%-5.0%
Gross profit margin %42.242.244.1
Effective tax rate%-14.815.6-23.9
Net profit margin%7.29.95.6
* 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 21.2% on a year-on-year (YoY) basis. The interest expended was up by 17.3% YoY during the same period.
  • The bank's operating profit increased by 26.5% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 44.1% in 4QFY19 as against 42.2% in 4QFY18.
  • Other income declined by 36.2% YoY during the quarter.
  • Net profit for the quarter declined by 5.0% YoY. Net profit margins during the quarter declined from 7.2% in 4QFY18 to 5.6% in 4QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 6.2% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 2.8% QoQ during the same period.
  • The bank's operating profit increased by 10.8% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 44.1% in 4QFY19 as against 42.2% in 3QFY18.
  • Net profit for the quarter declined by 39.6% QoQ, while net profit margins declined from 9.9% in 3QFY18 to 5.6% in 4QFY19.

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 309.3 to Rs 387.1, registering a Gain of Rs 77.8 or around 25.2%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 32,561.1 (down 0.4%). Over the last one year it has moved up from 29,365.0 to 32,561.1, a gain of 3,196 points (up 10.9%).

Overall, the S&P BSE SENSEX is up 8.0% over the year.

Current Valuations

At the current price of Rs 387.1, the price to earnings (P/E) ratio of ICICI BANK stands at 73.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.2 times.

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