INDIAN BANK Announces Quarterly Results (1QFY22); Net Profit Up 211.0%

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INDIAN BANK Announces Quarterly Results (1QFY22); Net Profit Up 211.0%
Thu, 22 Jul

INDIAN BANK has announced its results for the quarter ended June 2021. Here is a detailed performance review of the same:

INDIAN BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-20*
3
Mar-21*
3
Jun-21*
QoQ ChangeYoY Change
Operating incomeRs m101,22888,98896,2378.1%-4.9%
Other incomeRs m14,33318,25719,8488.7%38.5%
Total revenuesRs m115,561107,245116,0858.2%0.5%
InterestRs m62,45555,69556,2991.1%-9.9%
Gross Profit Rs m38,77233,29339,93820.0%3.0%
Other expensesRs m25,37526,36524,877-5.6%-2.0%
Profit before taxRs m6,3407,6118,76515.2%38.3%
TaxRs m2,494-9,196-3,194-228.1%
Profit after taxRs m3,84616,80711,958-28.8%211.0%
Gross profit margin %38.337.441.5
Effective tax rate%39.3-120.8-36.4
Net profit margin%3.818.912.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster


Year-on-Year Performance:
  • The bank's operating income (interest earned) during the quarter fell 4.9% on a year-on-year (YoY) basis. The interest expended was down by 9.9% YoY during the same period.
  • The bank's operating profit increased by 3.0% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 41.5% in 1QFY22 as against 38.3% in 1QFY21.
  • Other income increased by 38.5% YoY during the quarter.
  • Net profit for the quarter increased by 211.0% YoY. Net profit margins during the quarter increased from 3.8% in 1QFY21 to 12.4% in 1QFY22.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 8.1% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 1.1% QoQ during the same period.
  • The bank's operating profit increased by 20.0% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 41.5% in 1QFY22 as against 37.4% in 4QFY21.
  • Net profit for the quarter declined by 28.8% QoQ, while net profit margins declined from 18.9% in 4QFY21 to 12.4% in 1QFY22.

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

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INDIAN BANK Share Price Performance

Over the last one year, INDIAN BANK share price has moved up from Rs 61.1 to Rs 139.8, registering a Gain of Rs 78.8 or around 129.0%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 39,359.5 (up 0.7%). Over the last one year it has moved up from 25,914.5 to 39,359.5, a gain of 13,445 points (up 51.9%).

Overall, the S&P BSE SENSEX is up 41.2% over the year.

Current Valuations

At the current price of Rs 139.8, the price to earnings (P/E) ratio of INDIAN BANK stands at 4.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.4 times.

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