INDIAN BANK Announces Quarterly Results (4QFY19); Net Profit Down 243.8%

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INDIAN BANK Announces Quarterly Results (4QFY19); Net Profit Down 243.8%
Thu, 16 May

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

INDIAN BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Operating incomeRs m44,63948,23949,6793.0%11.3%
Other incomeRs m4,9034,4525,69627.9%16.2%
Total revenuesRs m49,54252,69155,3755.1%11.8%
InterestRs m28,26231,07232,0443.1%13.4%
Gross Profit Rs m16,37717,16717,6352.7%7.7%
Other expensesRs m9,64310,15310,8767.1%12.8%
Profit before taxRs m-3,8262,229-3,934-276.5%
TaxRs m-5,145707-2,037-388.2%
Profit after taxRs m1,3201,523-1,898-224.6%-243.8%
Gross profit margin %36.735.635.5
Effective tax rate%134.531.751.8
Net profit margin%3.03.2-3.8
* 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 11.3% on a year-on-year (YoY) basis. The interest expended was up by 13.4% YoY during the same period.
  • The bank's operating profit increased by 7.7% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 35.5% in 4QFY19 as against 36.7% in 4QFY18.
  • Other income increased by 16.2% YoY during the quarter.
  • Net profit for the quarter declined by 243.8% YoY. Net profit margins during the quarter declined from 3.0% in 4QFY18 to -3.8% in 4QFY19.
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 3.1% QoQ during the same period.
  • The bank's operating profit declined by 2.7% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 35.5% in 4QFY19 as against 35.6% in 3QFY18.
  • Net profit for the quarter declined by 224.6% QoQ, while net profit margins declined from 3.2% in 3QFY18 to -3.8% in 4QFY19.

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 301.3 to Rs 228.5, registering a Loss of Rs 72.8 or around 24.2%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 31,931.8 (down 0.1%). Over the last one year it has moved up from 29,357.5 to 31,931.8, a gain of 2,574 points (up 8.8%).

Overall, the S&P BSE SENSEX is up 4.5% over the year.

Current Valuations

At the current price of Rs 228.5, the price to earnings (P/E) ratio of INDIAN BANK stands at 34.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.6 times.

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