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.

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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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