INDIAN BANK Announces Quarterly Results (2QFY20); Net Profit Up 138.8%

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INDIAN BANK Announces Quarterly Results (2QFY20); Net Profit Up 138.8%
Fri, 25 Oct

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

INDIAN BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Operating incomeRs m47,00851,37653,0773.3%12.9%
Other incomeRs m4,2836,9457,3766.2%72.2%
Total revenuesRs m51,29258,32160,4533.7%17.9%
InterestRs m29,69933,52134,4462.8%16.0%
Gross Profit Rs m17,30917,85418,6304.3%7.6%
Other expensesRs m9,68211,05810,989-0.6%13.5%
Profit before taxRs m1,8675,7945,9242.2%217.3%
TaxRs m3662,1402,3389.3%539.5%
Profit after taxRs m1,5013,6543,586-1.9%138.8%
Gross profit margin %36.834.835.1
Effective tax rate%19.636.939.5
Net profit margin%3.27.16.8
* 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 12.9% on a year-on-year (YoY) basis. The interest expended was up by 16.0% YoY during the same period.
  • The bank's operating profit increased by 7.6% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 35.1% in 2QFY20 as against 36.8% in 2QFY19.
  • Other income increased by 72.2% YoY during the quarter.
  • Net profit for the quarter increased by 138.8% YoY. Net profit margins during the quarter increased from 3.2% in 2QFY19 to 6.8% in 2QFY20.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 3.3% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 2.8% QoQ during the same period.
  • The bank's operating profit increased by 4.3% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 35.1% in 2QFY20 as against 34.8% in 1QFY19.
  • Net profit for the quarter declined by 1.9% QoQ, while net profit margins declined from 7.1% in 1QFY19 to 6.8% in 2QFY20.

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 down from Rs 219.0 to Rs 125.3, registering a Loss of Rs 93.8 or around 42.8%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 32,960.1 (up 0.1%). Over the last one year it has moved up from 27,706.1 to 32,960.1, a gain of 5,254 points (up 19.0%).

Overall, the S&P BSE SENSEX is up 14.6% over the year.

Current Valuations

At the current price of Rs 125.3, the price to earnings (P/E) ratio of INDIAN BANK stands at 8.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.3 times.

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