IDBI BANK Announces Quarterly Results (4QFY19); Net Profit Up 13.1%

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IDBI BANK Announces Quarterly Results (4QFY19); Net Profit Up 13.1%
Mon, 3 Jun

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

IDBI BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Operating incomeRs m52,14154,92854,630-0.5%4.8%
Other incomeRs m26,9976,98111,53165.2%-57.3%
Total revenuesRs m79,13861,90966,1616.9%-16.4%
InterestRs m42,98741,36038,537-6.8%-10.4%
Gross Profit Rs m9,15513,56916,09318.6%75.8%
Other expensesRs m12,53213,29713,6652.8%9.0%
Profit before taxRs m-81,824-7,253-71,369
TaxRs m-25,197-16,200-22,185
Profit after taxRs m-56,6288,948-49,184-649.7%
Gross profit margin %17.624.729.5
Effective tax rate%30.8223.431.1
Net profit margin%-108.616.3-90.0
* 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 4.8% on a year-on-year (YoY) basis. The interest expended was down by 10.4% YoY during the same period.
  • The bank's operating profit increased by 75.8% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 29.5% in 4QFY19 as against 17.6% in 4QFY18.
  • Other income declined by 57.3% YoY during the quarter.
  • Net profit for the quarter increased by 13.1% YoY. Net profit margins during the quarter increased from -108.6% in 4QFY18 to -90.0% in 4QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter fell 0.5% on a quarter-on-quarter (QoQ) basis. The interest expended was down by 6.8% QoQ during the same period.
  • The bank's operating profit increased by 18.6% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 29.5% in 4QFY19 as against 24.7% in 3QFY18.
  • Net profit for the quarter declined by 649.7% QoQ, while net profit margins declined from 16.3% in 3QFY18 to -90.0% in 4QFY19.

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

IDBI BANK Share Price Performance

Over the last one year, IDBI BANK share price has moved up from Rs 63.9 to Rs 36.9, registering a Loss of Rs 27.0 or around 42.3%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 35,366.6 (up 0.3%). Over the last one year it has moved up from 29,780.7 to 35,366.6, a gain of 5,586 points (up 18.8%).

Overall, the S&P BSE SENSEX is up 13.2% over the year.

Current Valuations

At the current price of Rs 36.9, the price to book value (P/BV) ratio of IDBI BANK stands at 0.3 times.

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