INDUSIND BANK Announces Quarterly Results (1QFY20); Net Profit Up 38.3%

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INDUSIND BANK Announces Quarterly Results (1QFY20); Net Profit Up 38.3%
Mon, 15 Jul

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

INDUSIND BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Operating incomeRs m50,68259,91469,61416.2%37.4%
Other incomeRs m13,01615,59016,6336.7%27.8%
Total revenuesRs m63,69875,50486,24614.2%35.4%
InterestRs m29,45737,59141,1749.5%39.8%
Gross Profit Rs m21,22422,32428,44027.4%34.0%
Other expensesRs m15,12917,23719,16311.2%26.7%
Profit before taxRs m15,6115,07021,603326.1%38.4%
TaxRs m5,2541,4697,278395.5%38.5%
Profit after taxRs m10,3573,60114,325297.8%38.3%
Gross profit margin %41.937.340.9
Effective tax rate%33.729.033.7
Net profit margin%20.46.020.6
* 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 37.4% on a year-on-year (YoY) basis. The interest expended was up by 39.8% YoY during the same period.
  • The bank's operating profit increased by 34.0% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 40.9% in 1QFY20 as against 41.9% in 1QFY19.
  • Other income increased by 27.8% YoY during the quarter.
  • Net profit for the quarter increased by 38.3% YoY. Net profit margins during the quarter increased from 20.4% in 1QFY19 to 20.6% in 1QFY20.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 16.2% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 9.5% QoQ during the same period.
  • The bank's operating profit increased by 27.4% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 40.9% in 1QFY20 as against 37.3% in 4QFY19.
  • Net profit for the quarter increased by 297.8% QoQ, while net profit margins increased from 6.0% in 4QFY19 to 20.6% in 1QFY20.

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

INDUSIND BANK Share Price Performance

Over the last one year,INDUSIND BANK share price has moved down from Rs 1,923.5 to Rs 1,511.7, registering a Loss of Rs 411.8 or around 21.4%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 34,290.1 (down 0.4%). Over the last one year it has moved up from 29,788.5 to 34,290.1, a gain of 4,502 points (up 15.1%).

Overall, the S&P BSE SENSEX is up 6.3% over the year.

Current Valuations

At the current price of Rs 1,511.7, the price to earnings (P/E) ratio of INDUSIND BANK stands at 24.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.8 times.

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