IDBI BANK Announces Quarterly Results (2QFY21); Net Profit Up 109.4%

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

IDBI BANK Announces Quarterly Results (2QFY21); Net Profit Up 109.4%
Mon, 26 Oct

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

IDBI BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-19*
3
Jun-20*
3
Sep-20*
QoQ ChangeYoY Change
Operating incomeRs m51,98448,97446,892-4.3%-9.8%
Other incomeRs m10,32710,03610,7196.8%3.8%
Total revenuesRs m62,31059,01057,611-2.4%-7.5%
InterestRs m35,66931,24029,941-4.2%-16.1%
Gross Profit Rs m16,31517,73416,951-4.4%3.9%
Other expensesRs m16,54714,51015,2084.8%-8.1%
Profit before taxRs m-46,3194,3806,65151.8%
TaxRs m-11,7302,9353,40716.0%
Profit after taxRs m-34,5881,4443,244124.6%
Gross profit margin %31.436.236.1
Effective tax rate%25.367.051.2
Net profit margin%-66.52.96.9
* 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 fell 9.8% on a year-on-year (YoY) basis. The interest expended was down by 16.1% YoY during the same period.
  • The bank's operating profit increased by 3.9% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 36.1% in 2QFY21 as against 31.4% in 2QFY20.
  • Other income increased by 3.8% YoY during the quarter.
  • Net profit for the quarter increased by 109.4% YoY. Net profit margins during the quarter increased from -66.5% in 2QFY20 to 6.9% in 2QFY21.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter fell 4.3% on a quarter-on-quarter (QoQ) basis. The interest expended was down by 4.2% QoQ during the same period.
  • The bank's operating profit declined by 4.4% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 36.1% in 2QFY21 as against 36.2% in 1QFY20.
  • Net profit for the quarter increased by 124.6% QoQ, while net profit margins increased from 2.9% in 1QFY20 to 6.9% in 2QFY21.

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

FREE REPLAY: Discover What Richa Revealed in Her Smallcaps Summit

IDBI BANK Share Price Performance

Over the last one year, IDBI BANK share price has moved up from Rs 30.7 to Rs 39.1, registering a Gain of Rs 8.4 or around 27.2%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 27,774.6 (down 0.0%). Over the last one year it has moved down from 33,271.6 to 27,774.6, a gain of 5,497 points (down 16.5%).

Overall, the S&P BSE SENSEX is up 4.2% over the year.

Current Valuations

At the current price of Rs 39.1, the price to book value (P/BV) ratio of IDBI BANK stands at 0.3 times.

Equitymaster requests your view! Post a comment on "IDBI BANK Announces Quarterly Results (2QFY21); Net Profit Up 109.4%". Click here!

  

Related Views on News

IDBI BANK Announces Quarterly Results (2QFY22); Net Profit Up 72.0% (Quarterly Result Update)

Oct 26, 2021 | Updated on Oct 26, 2021

For the quarter ended September 2021, IDBI BANK has posted a net profit of Rs 6 bn (up 72.0% YoY). Sales on the other hand came in at Rs 42 bn (down 11.4% YoY). Read on for a complete analysis of IDBI BANK's quarterly results.

ICICI Bank Posts Threefold Jump in Net Profit; Net Interest Income Grows 17% (Company Info)

Apr 26, 2021

Key takeaways from ICICI Bank's March quarter (Q4FY21) results.

HDFC Bank Posts Good Q4 Performance Amid Covid-19 Second Wave (Company Info)

Apr 20, 2021

Key takeaways from HDFC Bank's March quarter (Q4FY21) results.

IDBI BANK Announces Quarterly Results (4QFY20); Net Profit Up 102.8% (Quarterly Result Update)

Jun 1, 2020 | Updated on Jun 1, 2020

For the quarter ended March 2020, IDBI BANK has posted a net profit of Rs 1 bn (up 102.8% YoY). Sales on the other hand came in at Rs 56 bn (up 2.5% YoY). Read on for a complete analysis of IDBI BANK's quarterly results.

How the YES Bank Collapse Unfolded - 10 Points (Sector Info)

Mar 9, 2020

A timeline of how YES Bank went from a stock market darling to a pariah.

More Views on News

Most Popular

Infosys vs TCS: Which is Better?(Views On News)

Nov 26, 2021

In the post pandemic era, the top two IT companies in India are fighting to capture the growing demand for IT.

This Multibagger Stock Zooms 20% After Dolly Khanna Buys Stake(Views On News)

Nov 24, 2021

Shares of this edible oil company zoomed over 50% in three days after ace investor bought around 1% stake.

Don't Sell these Stocks if the Market Falls(Profit Hunter)

Nov 17, 2021

These are the 3 types of stocks that you should not sell in a market crash.

MobiKwik IPO Opens for Subscription Soon. Key Things to Know Before Subscribing.(Views On News)

Nov 20, 2021

The Rs 19 bn issue is set to hit the market soon.

How to Find Your Next 10-Bagger in this Market(Profit Hunter)

Nov 19, 2021

The #1 make or break factor in your portfolio you shouldn't ignore.

More

Become A Smarter Investor
In Just 5 Minutes

Multibagger Stock Guide 2022
Get our special report Multibagger Stocks Guide (2022 Edition) Now!
We will never sell or rent your email id.
Please read our Terms

IDBI BANK SHARE PRICE


Nov 26, 2021 (Close)

TRACK IDBI BANK

  • Track your investment in IDBI BANK with Equitymaster's Portfolio Tracker. Set live price alerts, get research alerts and more. Get access now...
  • Add To MyStocks

IDBI BANK - PUNJAB & SIND BANK COMPARISON

COMPARE IDBI BANK WITH

MARKET STATS