INDUSIND BANK Announces Quarterly Results (3QFY20); Net Profit Up 32.0%

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INDUSIND BANK Announces Quarterly Results (3QFY20); Net Profit Up 32.0%
Wed, 15 Jan

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

INDUSIND BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-18*
3
Sep-19*
3
Dec-19*
QoQ ChangeYoY Change
Operating incomeRs m57,63571,50472,8451.9%26.4%
Other incomeRs m14,68917,26717,8943.6%21.8%
Total revenuesRs m72,32388,77090,7392.2%25.5%
InterestRs m34,75442,40842,105-0.7%21.2%
Gross Profit Rs m22,88129,09530,7405.7%34.3%
Other expensesRs m16,40020,36321,1784.0%29.1%
Profit before taxRs m15,10318,62217,022-8.6%12.7%
TaxRs m5,2534,7894,020-16.1%-23.5%
Profit after taxRs m9,85013,83413,002-6.0%32.0%
Gross profit margin %39.740.742.2
Effective tax rate%34.825.723.6
Net profit margin%17.119.317.8
* 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 26.4% on a year-on-year (YoY) basis. The interest expended was up by 21.2% YoY during the same period.
  • The bank's operating profit increased by 34.3% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 42.2% in 3QFY20 as against 39.7% in 3QFY19.
  • Other income increased by 21.8% YoY during the quarter.
  • Net profit for the quarter increased by 32.0% YoY. Net profit margins during the quarter increased from 17.1% in 3QFY19 to 17.8% in 3QFY20.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 1.9% on a quarter-on-quarter (QoQ) basis. The interest expended was down by 0.7% QoQ during the same period.
  • The bank's operating profit increased by 5.7% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 42.2% in 3QFY20 as against 40.7% in 2QFY19.
  • Net profit for the quarter declined by 6.0% QoQ, while net profit margins declined from 19.3% in 2QFY19 to 17.8% in 3QFY20.

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 1,496.7 to Rs 1,418.5, registering a Loss of Rs 78.2 or around 5.2%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 36,220.9 (down 0.9%). Over the last one year it has moved up from 30,681.8 to 36,220.9, a gain of 5,539 points (up 18.1%).

Overall, the S&P BSE SENSEX is up 16.5% over the year.

Current Valuations

At the current price of Rs 1,418.5, the price to earnings (P/E) ratio of INDUSIND BANK stands at 18.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.2 times.

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