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

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IDBI BANK Announces Quarterly Results (4QFY20); Net Profit Up 102.8%
Mon, 1 Jun

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

IDBI BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-19*
3
Dec-19*
3
Mar-20*
QoQ ChangeYoY Change
Operating incomeRs m54,63049,37255,98513.4%2.5%
Other incomeRs m11,53112,78413,2653.8%15.0%
Total revenuesRs m66,16162,15669,24911.4%4.7%
InterestRs m38,53734,04932,422-4.8%-15.9%
Gross Profit Rs m16,09315,32423,56353.8%46.4%
Other expensesRs m13,66515,32918,09018.0%32.4%
Profit before taxRs m-71,3697,5592,897-61.7%
TaxRs m-22,18565,1891,543-97.6%
Profit after taxRs m-49,184-57,6301,354
Gross profit margin %29.531.042.1
Effective tax rate%31.1862.453.3
Net profit margin%-90.0-116.72.4
* 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 2.5% on a year-on-year (YoY) basis. The interest expended was down by 15.9% YoY during the same period.
  • The bank's operating profit increased by 46.4% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 42.1% in 4QFY20 as against 29.5% in 4QFY19.
  • Other income increased by 15.0% YoY during the quarter.
  • Net profit for the quarter increased by 102.8% YoY. Net profit margins during the quarter increased from -90.0% in 4QFY19 to 2.4% in 4QFY20.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 13.4% on a quarter-on-quarter (QoQ) basis. The interest expended was down by 4.8% QoQ during the same period.
  • The bank's operating profit increased by 53.8% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 42.1% in 4QFY20 as against 31.0% in 3QFY19.
  • Net profit for the quarter increased by 102.3% QoQ, while net profit margins increased from -116.7% in 3QFY19 to 2.4% in 4QFY20.

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

Revealed: Top 3 Stocks for 2020 and Beyond

IDBI BANK Share Price Performance

Over the last one year,IDBI BANK share price has moved down from Rs 37.7 to Rs 24.4, registering a Loss of Rs 13.3 or around 35.3%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 22,972.9 (up 3.8%). Over the last one year it has moved down from 35,264.0 to 22,972.9, a loss of 12,291 points (down 34.9%).

Overall, the S&P BSE SENSEX is down 15.8% over the year.

Current Valuations

At the current price of Rs 24.4, the price to book value (P/BV) ratio of IDBI BANK stands at 0.2 times.

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For the quarter ended December 2019, IDBI BANK has posted a net profit of Rs 58 bn (down 37.7% YoY). Sales on the other hand came in at Rs 49 bn (down 10.1% YoY). Read on for a complete analysis of IDBI BANK's quarterly results.

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