INDIAN BANK Announces Quarterly Results (1QFY20); Net Profit Up 74.6%

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INDIAN BANK Announces Quarterly Results (1QFY20); Net Profit Up 74.6%
Wed, 7 Aug

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

INDIAN BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Operating incomeRs m46,92249,67951,3763.4%9.5%
Other incomeRs m4,3985,6966,94521.9%57.9%
Total revenuesRs m51,32055,37558,3215.3%13.6%
InterestRs m28,85232,04433,5214.6%16.2%
Gross Profit Rs m18,07017,63517,8541.2%-1.2%
Other expensesRs m9,49210,87611,0581.7%16.5%
Profit before taxRs m2,680-3,9345,794116.2%
TaxRs m587-2,0372,140264.7%
Profit after taxRs m2,093-1,8983,65474.6%
Gross profit margin %38.535.534.8
Effective tax rate%21.951.836.9
Net profit margin%4.5-3.87.1
* 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 9.5% on a year-on-year (YoY) basis. The interest expended was up by 16.2% YoY during the same period.
  • The bank's operating profit declined by 1.2% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 34.8% in 1QFY20 as against 38.5% in 1QFY19.
  • Other income increased by 57.9% YoY during the quarter.
  • Net profit for the quarter increased by 74.6% YoY. Net profit margins during the quarter increased from 4.5% in 1QFY19 to 7.1% in 1QFY20.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 3.4% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 4.6% QoQ during the same period.
  • The bank's operating profit declined by 1.2% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 34.8% in 1QFY20 as against 35.5% in 4QFY19.
  • Net profit for the quarter increased by 292.5% QoQ, while net profit margins increased from -3.8% in 4QFY19 to 7.1% in 1QFY20.

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

INDIAN BANK Share Price Performance

Over the last one year,INDIAN BANK share price has moved down from Rs 374.3 to Rs 206.1, registering a Loss of Rs 168.2 or around 44.9%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 31,709.2 (up 0.0%). Over the last one year it has moved up from 31,342.7 to 31,709.2, a gain of 366 points (up 1.2%).

Overall, the S&P BSE SENSEX is down 1.8% over the year.

Current Valuations

At the current price of Rs 206.1, the price to earnings (P/E) ratio of INDIAN BANK stands at 20.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.5 times.

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