INDIAN BANK Announces Quarterly Results (3QFY19); Net Profit Down 49.8%

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INDIAN BANK Announces Quarterly Results (3QFY19); Net Profit Down 49.8%
Tue, 29 Jan

INDIAN BANK has announced its results for the quarter ended December 2018. Here is a detailed performance review of the same:

INDIAN BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Operating incomeRs m43,54247,00848,2392.6%10.8%
Other incomeRs m5,4894,2834,4523.9%-18.9%
Total revenuesRs m49,03151,29252,6912.7%7.5%
InterestRs m27,31529,69931,0724.6%13.8%
Gross Profit Rs m16,22717,30917,167-0.8%5.8%
Other expensesRs m9,6239,68210,1534.9%5.5%
Profit before taxRs m2,9111,8672,22919.4%-23.4%
TaxRs m-12036670793.3%
Profit after taxRs m3,0311,5011,5231.4%-49.8%
Gross profit margin %37.336.835.6
Effective tax rate%-4.119.631.7
Net profit margin%7.03.23.2
* 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 10.8% on a year-on-year (YoY) basis. The interest expended was up by 13.8% YoY during the same period.
  • The bank's operating profit increased by 5.8% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 35.6% in 3QFY19 as against 37.3% in 3QFY18.
  • Other income declined by 18.9% YoY during the quarter.
  • Net profit for the quarter declined by 49.8% YoY. Net profit margins during the quarter declined from 7.0% in 3QFY18 to 3.2% in 3QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 2.6% 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 0.8% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 35.6% in 3QFY19 as against 36.8% in 2QFY18.
  • Net profit for the quarter increased by 1.4% QoQ, while net profit margins declined from 3.2% in 2QFY18 to 3.2% in 3QFY19.

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 up from Rs 369.0 to Rs 221.3, registering a Loss of Rs 147.8 or around 40.0%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 29,849.2 (up 0.1%). Over the last one year it has moved down from 31,125.8 to 29,849.2, a gain of 1,277 points (down 4.1%).

Overall, the S&P BSE SENSEX is down 1.9% over the year.

Current Valuations

At the current price of Rs 221.3, the price to earnings (P/E) ratio of INDIAN BANK stands at 16.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.6 times.

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