INDIAN BANK Announces Quarterly Results (3QFY20); Net Profit Up 62.3%

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INDIAN BANK Announces Quarterly Results (3QFY20); Net Profit Up 62.3%
Mon, 27 Jan

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

INDIAN BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-18*
3
Sep-19*
3
Dec-19*
QoQ ChangeYoY Change
Operating incomeRs m48,23953,07754,6703.0%13.3%
Other incomeRs m4,4527,37610,38640.8%133.3%
Total revenuesRs m52,69160,45365,0567.6%23.5%
InterestRs m31,07234,44635,1182.0%13.0%
Gross Profit Rs m17,16718,63019,5524.9%13.9%
Other expensesRs m10,15310,98910,750-2.2%5.9%
Profit before taxRs m2,2295,9243,895-34.2%74.7%
TaxRs m7072,3381,424-39.1%101.5%
Profit after taxRs m1,5233,5862,472-31.1%62.3%
Gross profit margin %35.635.135.8
Effective tax rate%31.739.536.5
Net profit margin%3.26.84.5
* 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 13.3% on a year-on-year (YoY) basis. The interest expended was up by 13.0% YoY during the same period.
  • The bank's operating profit increased by 13.9% YoY during the quarter. Consequently, operating profit margins remained same and stood at 35.8% in 3QFY20.
  • Other income increased by 133.3% YoY during the quarter.
  • Net profit for the quarter increased by 62.3% YoY. Net profit margins during the quarter increased from 3.2% in 3QFY19 to 4.5% in 3QFY20.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 3.0% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 2.0% QoQ during the same period.
  • The bank's operating profit increased by 4.9% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 35.8% in 3QFY20 as against 35.1% in 2QFY19.
  • Net profit for the quarter declined by 31.1% QoQ, while net profit margins declined from 6.8% in 2QFY19 to 4.5% in 3QFY20.

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

DISCOVER: How to Potentially Multiply Your Returns by Upto 5x...

INDIAN BANK Share Price Performance

Over the last one year,INDIAN BANK share price has moved down from Rs 238.7 to Rs 107.5, registering a Loss of Rs 131.2 or around 55.0%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 35,401.0 (down 0.7%). Over the last one year it has moved up from 30,377.5 to 35,401.0, a gain of 5,024 points (up 16.5%).

Overall, the S&P BSE SENSEX is up 14.2% over the year.

Current Valuations

At the current price of Rs 107.5, the price to earnings (P/E) ratio of INDIAN BANK stands at 6.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.3 times.

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