IDFC FIRST BANK Announces Quarterly Results (4QFY19); Net Profit Down 619.9%

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IDFC FIRST BANK Announces Quarterly Results (4QFY19); Net Profit Down 619.9%
Mon, 13 May

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

IDFC FIRST BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Operating incomeRs m22,81336,64136,288-1.0%59.1%
Other incomeRs m9303,0433,1623.9%239.8%
Total revenuesRs m23,74339,68439,450-0.6%66.2%
InterestRs m18,28125,18925,159-0.1%37.6%
Gross Profit Rs m4,09711,45210,522-8.1%156.8%
Other expensesRs m4,89937,40911,476-69.3%134.3%
Profit before taxRs m-1,861-25,039-4,167
TaxRs m-2,280-9,659-1,987
Profit after taxRs m419-15,380-2,180-619.9%
Gross profit margin %18.031.329.0
Effective tax rate%122.538.647.7
Net profit margin%1.8-42.0-6.0
* 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 59.1% on a year-on-year (YoY) basis. The interest expended was up by 37.6% YoY during the same period.
  • The bank's operating profit increased by 156.8% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 29.0% in 4QFY19 as against 18.0% in 4QFY18.
  • Other income increased by 239.8% YoY during the quarter.
  • Net profit for the quarter declined by 619.9% YoY. Net profit margins during the quarter declined from 1.8% in 4QFY18 to -6.0% in 4QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter fell 1.0% on a quarter-on-quarter (QoQ) basis. The interest expended was down by 0.1% QoQ during the same period.
  • The bank's operating profit declined by 8.1% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 29.0% in 4QFY19 as against 31.3% in 3QFY18.
  • Net profit for the quarter increased by 85.8% QoQ, while net profit margins increased from -42.0% in 3QFY18 to -6.0% in 4QFY19.

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

IDFC FIRST BANK Share Price Performance

Over the last one year, IDFC FIRST BANK share price has moved up from Rs 43.9 to Rs 44.9, registering a Gain of Rs 1.1 or around 2.4%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 32,399.9 (up 0.0%). Over the last one year it has moved up from 29,688.9 to 32,399.9, a gain of 2,711 points (up 9.1%).

Overall, the S&P BSE SENSEX is up 6.5% 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 1.4 times.

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