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IDFC LIMITED Announces Quarterly Results (4QFY18); Net Profit Down 110.9%

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IDFC LIMITED Announces Quarterly Results (4QFY18); Net Profit Down 110.9%
Thu, 19 Jul

IDFC LIMITED has announced its results for the quarter ended March 2018. Here is a detailed performance review of the same:

IDFC LIMITED Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-17*
3
Dec-17*
3
Mar-18*
QoQ ChangeYoY Change
Operating incomeRs m25,76927,89626,423-5.3%2.5%
Other incomeRs m1051479841.3%4788.8%
Total revenuesRs m25,77927,94726,902-3.7%4.4%
InterestRs m17,68318,51718,9852.5%7.4%
Gross Profit Rs m7,6778,9226,950-22.1%-9.5%
Other expensesRs m4,3156,0678,51340.3%97.3%
Profit before taxRs m2,2381,9521,018-47.8%-54.5%
TaxRs m8908731,16533.4%30.9%
Profit after taxRs m1,3481,079-147-113.6%-110.9%
Gross profit margin %29.832.026.3
Effective tax rate%39.844.7114.4
Net profit margin%5.23.9-0.6
* 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 up by 7.4% YoY during the same period.
  • The bank's operating profit declined by 9.5% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 26.3% in 4QFY18 as against 29.8% in 4QFY17.
  • Other income increased by 4788.8% YoY during the quarter.
  • Net profit for the quarter declined by 110.9% YoY. Net profit margins during the quarter declined from 5.2% in 4QFY17 to 0.6% in 4QFY18.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 5.3% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 2.5% QoQ during the same period.
  • The bank's operating profit declined by 22.1% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 26.3% in 4QFY18 as against 32.0% in 3QFY17.
  • Net profit for the quarter declined by 113.6% QoQ, while net profit margins declined from 3.9% in 3QFY17 to 0.6% in 4QFY18.

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

IDFC LIMITED Share Price Performance

Over the last one year, IDFC LIMITED share price has moved up from Rs 59.4 to Rs 44.6, registering a Loss of Rs -14.8 or around 24.9%.

Overall, the S&P BSE SENSEX is down 0.1% over the year.

Current Valuations

At the current price of Rs 44.6, the price to earnings (P/E) ratio of IDFC LIMITED stands at 12.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.7 times.

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