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INDUSIND BANK Announces Quarterly Results (3QFY19); Net Profit Up 5.2%

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INDUSIND BANK Announces Quarterly Results (3QFY19); Net Profit Up 5.2%
Fri, 11 Jan

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

INDUSIND BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Operating incomeRs m42,86854,38157,6356.0%34.4%
Other incomeRs m11,86813,17314,68911.5%23.8%
Total revenuesRs m54,73567,55472,3237.1%32.1%
InterestRs m23,92032,34834,7547.4%45.3%
Gross Profit Rs m18,94822,03322,8813.8%20.8%
Other expensesRs m14,16915,28116,4007.3%15.7%
Profit before taxRs m14,28514,02215,1037.7%5.7%
TaxRs m4,9234,8195,2539.0%6.7%
Profit after taxRs m9,3639,2039,8507.0%5.2%
Gross profit margin %44.240.539.7
Effective tax rate%34.534.434.8
Net profit margin%21.816.917.1
* 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 34.4% on a year-on-year (YoY) basis. The interest expended was up by 45.3% YoY during the same period.
  • The bank's operating profit increased by 20.8% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 39.7% in 3QFY19 as against 44.2% in 3QFY18.
  • Other income increased by 23.8% YoY during the quarter.
  • Net profit for the quarter increased by 5.2% YoY. Net profit margins during the quarter declined from 21.8% in 3QFY18 to 17.1% in 3QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 6.0% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 7.4% 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 39.7% in 3QFY19 as against 40.5% in 2QFY18.
  • Net profit for the quarter increased by 7.0% QoQ, while net profit margins increased from 16.9% in 2QFY18 to 17.1% in 3QFY19.

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 1,698.6 to Rs 1,561.5, registering a Loss of Rs 137.1 or around 8.1%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 30,951.1 (up 0.1%). Over the last one year it has moved up from 28,952.0 to 30,951.1, a gain of 1,999 points (up 6.9%).

Overall, the S&P BSE SENSEX is up 5.1% over the year.

Current Valuations

At the current price of Rs 1,561.5, the price to earnings (P/E) ratio of INDUSIND BANK stands at 23.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.9 times.

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