ICICI BANK Announces Quarterly Results (4QFY20); Net Profit Up 26.0%

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ICICI BANK Announces Quarterly Results (4QFY20); Net Profit Up 26.0%
Tue, 12 May

ICICI BANK has announced its results for the quarter ended March 2020. Here is a detailed performance review of the same:

ICICI BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-19*
3
Dec-19*
3
Mar-20*
QoQ ChangeYoY Change
Operating incomeRs m172,928190,643191,8870.7%11.0%
Other incomeRs m36,21045,74042,550-7.0%17.5%
Total revenuesRs m209,138236,383234,437-0.8%12.1%
InterestRs m96,727105,190102,618-2.4%6.1%
Gross Profit Rs m76,20185,45389,2694.5%17.1%
Other expensesRs m50,07755,70757,9184.0%15.7%
Profit before taxRs m7,82054,65414,227-74.0%81.9%
TaxRs m-1,87113,1902,013-84.7%
Profit after taxRs m9,69141,46512,214-70.5%26.0%
Gross profit margin %44.144.846.5
Effective tax rate%-23.924.114.1
Net profit margin%5.621.76.4
* 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 11.0% on a year-on-year (YoY) basis. The interest expended was up by 6.1% YoY during the same period.
  • The bank's operating profit increased by 17.1% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 46.5% in 4QFY20 as against 44.1% in 4QFY19.
  • Other income increased by 17.5% YoY during the quarter.
  • Net profit for the quarter increased by 26.0% YoY. Net profit margins during the quarter increased from 5.6% in 4QFY19 to 6.4% in 4QFY20.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 0.7% on a quarter-on-quarter (QoQ) basis. The interest expended was down by 2.4% QoQ during the same period.
  • The bank's operating profit increased by 4.5% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 46.5% in 4QFY20 as against 44.8% in 3QFY19.
  • Net profit for the quarter declined by 70.5% QoQ, while net profit margins declined from 21.8% in 3QFY19 to 6.4% in 4QFY20.

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 down from Rs 384.8 to Rs 313.7, registering a Loss of Rs 71.1 or around 18.5%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 21,159.1 (down 2.5%). Over the last one year it has moved down from 32,385.1 to 21,159.1, a gain of 11,226 points (down 34.7%).

Overall, the S&P BSE SENSEX is down 16.1% over the year.

Current Valuations

At the current price of Rs 313.7, the price to earnings (P/E) ratio of ICICI BANK stands at 25.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.8 times.

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