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INDUSIND BANK Announces Quarterly Results (2QFY19); Net Profit Up 4.6%

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INDUSIND BANK Announces Quarterly Results (2QFY19); Net Profit Up 4.6%
Tue, 16 Oct

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

INDUSIND BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Operating incomeRs m42,08450,68254,3817.3%29.2%
Other incomeRs m11,87613,01613,1731.2%10.9%
Total revenuesRs m53,95963,69867,5546.1%25.2%
InterestRs m23,87429,45732,3489.8%35.5%
Gross Profit Rs m18,21021,22422,0333.8%21.0%
Other expensesRs m13,75115,12915,2811.0%11.1%
Profit before taxRs m13,39815,61114,022-10.2%4.7%
TaxRs m4,5975,2544,819-8.3%4.8%
Profit after taxRs m8,80110,3579,203-11.1%4.6%
Gross profit margin %43.341.940.5
Effective tax rate%34.333.734.4
Net profit margin%20.920.416.9
* 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 29.2% on a year-on-year (YoY) basis. The interest expended was up by 35.5% YoY during the same period.
  • The bank's operating profit increased by 21.0% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 40.5% in 2QFY19 as against 43.3% in 2QFY18.
  • Other income increased by 10.9% YoY during the quarter.
  • Net profit for the quarter increased by 4.6% YoY. Net profit margins during the quarter declined from 20.9% in 2QFY18 to 16.9% in 2QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 7.3% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 9.8% QoQ during the same period.
  • The bank's operating profit declined by 3.8% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 40.5% in 2QFY19 as against 41.9% in 1QFY18.
  • Net profit for the quarter declined by 11.1% QoQ, while net profit margins declined from 20.4% in 1QFY18 to 16.9% in 2QFY19.

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 up from Rs 1,717.4 to Rs 1,618.5, registering a Loss of Rs 98.9 or around 5.8%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 28,668.4 (up 1.2%). Over the last one year it has moved up from 27,748.3 to 28,668.4, a gain of 920 points (up 3.3%).

Overall, the S&P BSE SENSEX is up 7.8% over the year.

Current Valuations

At the current price of Rs 1,618.5, the price to earnings (P/E) ratio of INDUSIND BANK stands at 25.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.1 times.

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