IDFC FIRST BANK Announces Quarterly Results (2QFY20); Net Profit Down 83.8%

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?  

IDFC FIRST BANK Announces Quarterly Results (2QFY20); Net Profit Down 83.8%
Fri, 1 Nov

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

IDFC FIRST BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Operating incomeRs m23,34237,93140,1825.9%72.1%
Other incomeRs m1,1933,1053,49012.4%192.5%
Total revenuesRs m24,53541,03643,6716.4%78.0%
InterestRs m18,82926,18726,5511.4%41.0%
Gross Profit Rs m4,51210,96512,89717.6%185.8%
Other expensesRs m5,51811,67212,94510.9%134.6%
Profit before taxRs m-5,827-9,6301,002
TaxRs m-2,130-3,4577,797
Profit after taxRs m-3,697-6,174-6,795
Gross profit margin %19.328.932.1
Effective tax rate%36.635.9778.4
Net profit margin%-15.8-16.3-16.9
* 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 grew 72.1% on a year-on-year (YoY) basis. The interest expended was up by 41.0% YoY during the same period.
  • The bank's operating profit increased by 185.8% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 32.1% in 2QFY20 as against 19.3% in 2QFY19.
  • Other income increased by 192.5% YoY during the quarter.
  • Net profit for the quarter declined by 83.8% YoY. Net profit margins during the quarter declined from -15.8% in 2QFY19 to -16.9% in 2QFY20.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 5.9% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 1.4% QoQ during the same period.
  • The bank's operating profit increased by 17.6% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 32.1% in 2QFY20 as against 28.9% in 1QFY19.
  • Net profit for the quarter declined by 10.1% QoQ, while net profit margins declined from -16.3% in 1QFY19 to -16.9% in 2QFY20.

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

FREE Event: The Great Indian Wealth Project

IDFC FIRST BANK Share Price Performance

Over the last one year,IDFC FIRST BANK share price has moved up from Rs 35.2 to Rs 44.9, registering a Gain of Rs 9.7 or around 27.6%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 34,150.3 (up 0.7%). Over the last one year it has moved up from 28,611.2 to 34,150.3, a gain of 5,539 points (up 19.4%).

Overall, the S&P BSE SENSEX is up 16.6% over the year.

Current Valuations

At the current price of Rs 44.9, the price to book value (P/BV) ratio of IDFC FIRST BANK stands at 1.2 times.

Equitymaster requests your view! Post a comment on "IDFC FIRST BANK Announces Quarterly Results (2QFY20); Net Profit Down 83.8%". Click here!

  

Related Views on News

IDFC FIRST BANK Announces Quarterly Results (1QFY21); Net Profit Up 115.2% (Quarterly Result Update)

Aug 26, 2020 | Updated on Aug 26, 2020

For the quarter ended June 2020, IDFC FIRST BANK has posted a net profit of Rs 935 m (up 115.2% YoY). Sales on the other hand came in at Rs 38 bn (up 1.0% YoY). Read on for a complete analysis of IDFC FIRST BANK's quarterly results.

IDFC FIRST BANK Announces Quarterly Results (4QFY20); Net Profit Up 132.8% (Quarterly Result Update)

May 26, 2020 | Updated on May 26, 2020

For the quarter ended March 2020, IDFC FIRST BANK has posted a net profit of Rs 715 m (up 132.8% YoY). Sales on the other hand came in at Rs 40 bn (up 9.0% YoY). Read on for a complete analysis of IDFC FIRST 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.

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

Time to Buy Smallcaps?(Fast Profits Daily)

Apr 30, 2021

In this video, I'll show you why I favour smallcaps over the Nifty.

The Next Smallcap Winners(Profit Hunter)

Apr 30, 2021

Price is the only due diligence one might require to buy this business.

Sell in May and Go Away?(Fast Profits Daily)

Apr 28, 2021

Does the concept of selling stocks in the month of May, work in the Indian market?

Are the Stock Markets Deaf to Covid Agony?(Profit Hunter)

May 6, 2021

Why are markets discounting the economic impact of Covid?

More

India's #1 Trader
Reveals His Secrets

Secret To Increasing Your Trading Profits Today
Get this Special Report,
The Secret to Increasing Your Trading Profits Today, Now!
We will never sell or rent your email id.
Please read our Terms

IDFC FIRST BANK SHARE PRICE


May 10, 2021 (Close)

TRACK IDFC FIRST BANK

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

MORE ON IDFC FIRST BANK

IDFC FIRST BANK - ANDHRA BANK COMPARISON

COMPARE IDFC FIRST BANK WITH

MARKET STATS