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

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IDFC FIRST BANK Announces Quarterly Results (4QFY20); Net Profit Up 132.8%
Tue, 26 May

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

IDFC FIRST BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-19*
3
Dec-19*
3
Mar-20*
QoQ ChangeYoY Change
Operating incomeRs m36,28841,00239,559-3.5%9.0%
Other incomeRs m3,1625,7904,838-16.4%53.0%
Total revenuesRs m39,45046,79144,396-5.1%12.5%
InterestRs m25,15925,65923,924-6.8%-4.9%
Gross Profit Rs m10,52214,55115,6357.4%48.6%
Other expensesRs m11,47614,31515,2756.7%33.1%
Profit before taxRs m-4,167-16,2301,074
TaxRs m-1,987158358126.2%
Profit after taxRs m-2,180-16,388715
Gross profit margin %29.035.539.5
Effective tax rate%47.7-1.033.4
Net profit margin%-6.0-40.01.8
* 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 9.0% on a year-on-year (YoY) basis. The interest expended was down by 4.9% YoY during the same period.
  • The bank's operating profit increased by 48.6% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 39.5% in 4QFY20 as against 29.0% in 4QFY19.
  • Other income increased by 53.0% YoY during the quarter.
  • Net profit for the quarter increased by 132.8% YoY. Net profit margins during the quarter increased from -6.0% in 4QFY19 to 1.8% in 4QFY20.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter fell 3.5% 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 7.4% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 39.5% in 4QFY20 as against 35.5% in 3QFY19.
  • Net profit for the quarter increased by 104.4% QoQ, while net profit margins increased from -40.0% in 3QFY19 to 1.8% in 4QFY20.

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

Discover: India's #1 Defence Stock

IDFC FIRST BANK Share Price Performance

Over the last one year,IDFC FIRST BANK share price has moved down from Rs 45.0 to Rs 19.7, registering a Loss of Rs 25.3 or around 56.2%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 20,033.3 (up 0.6%). Over the last one year it has moved down from 35,199.2 to 20,033.3, a loss of 15,166 points (down 43.1%).

Overall, the S&P BSE SENSEX is down 21.6% over the year.

Current Valuations

At the current price of Rs 19.7, the price to book value (P/BV) ratio of IDFC FIRST BANK stands at 0.5 times.

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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.

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Nov 27, 2020 03:36 PM

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