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.

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 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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