INDUSIND BANK Announces Quarterly Results (2QFY20); Net Profit Up 50.3%

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INDUSIND BANK Announces Quarterly Results (2QFY20); Net Profit Up 50.3%
Mon, 14 Oct

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

INDUSIND BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Operating incomeRs m54,38169,61471,5042.7%31.5%
Other incomeRs m13,17316,63317,2673.8%31.1%
Total revenuesRs m67,55486,24688,7702.9%31.4%
InterestRs m32,34841,17442,4083.0%31.1%
Gross Profit Rs m22,03328,44029,0952.3%32.1%
Other expensesRs m15,28119,16320,3636.3%33.3%
Profit before taxRs m14,02221,60318,622-13.8%32.8%
TaxRs m4,8197,2784,789-34.2%-0.6%
Profit after taxRs m9,20314,32513,834-3.4%50.3%
Gross profit margin %40.540.940.7
Effective tax rate%34.433.725.7
Net profit margin%16.920.619.3
* 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 31.5% on a year-on-year (YoY) basis. The interest expended was up by 31.1% YoY during the same period.
  • The bank's operating profit increased by 32.1% YoY during the quarter. Consequently, operating profit margins remained same and stood at 40.7% in 2QFY20.
  • Other income increased by 31.1% YoY during the quarter.
  • Net profit for the quarter increased by 50.3% YoY. Net profit margins during the quarter increased from 16.9% in 2QFY19 to 19.3% in 2QFY20.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 2.7% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 3.0% QoQ during the same period.
  • The bank's operating profit increased by 2.3% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 40.7% in 2QFY20 as against 40.9% in 1QFY19.
  • Net profit for the quarter declined by 3.4% QoQ, while net profit margins declined from 20.6% in 1QFY19 to 19.3% in 2QFY20.

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

REVEALED: How to Potentially Increase Your Monthly Income Without Working 24x7

INDUSIND BANK Share Price Performance

Over the last one year,INDUSIND BANK share price has moved down from Rs 1,651.4 to Rs 1,237.6, registering a Loss of Rs 413.8 or around 25.1%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 31,880.5 (up 0.5%). Over the last one year it has moved up from 28,429.0 to 31,880.5, a gain of 3,452 points (up 12.1%).

Overall, the S&P BSE SENSEX is up 12.2% over the year.

Current Valuations

At the current price of Rs 1,237.6, the price to earnings (P/E) ratio of INDUSIND BANK stands at 17.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.8 times.

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