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.

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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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