INDUSIND BANK Announces Quarterly Results (4QFY19); Net Profit Down 62.2%

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Markets will remain closed on 21st October 2019, due to Assembly Elections in Maharashtra.

INDUSIND BANK Announces Quarterly Results (4QFY19); Net Profit Down 62.2%
Fri, 24 May

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

INDUSIND BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Operating incomeRs m46,50157,63559,9144.0%28.8%
Other incomeRs m12,08514,68915,5906.1%29.0%
Total revenuesRs m58,58672,32375,5044.4%28.9%
InterestRs m26,42534,75437,5918.2%42.3%
Gross Profit Rs m20,07622,88122,324-2.4%11.2%
Other expensesRs m14,46716,40017,2375.1%19.1%
Profit before taxRs m14,33815,1035,070-66.4%-64.6%
TaxRs m4,8085,2531,469-72.0%-69.4%
Profit after taxRs m9,5319,8503,601-63.4%-62.2%
Gross profit margin %43.239.737.3
Effective tax rate%33.534.829.0
Net profit margin%20.517.16.0
* 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 28.8% on a year-on-year (YoY) basis. The interest expended was up by 42.3% YoY during the same period.
  • The bank's operating profit increased by 11.2% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 37.3% in 4QFY19 as against 43.2% in 4QFY18.
  • Other income increased by 29.0% YoY during the quarter.
  • Net profit for the quarter declined by 62.2% YoY. Net profit margins during the quarter declined from 20.5% in 4QFY18 to 6.0% in 4QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 4.0% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 8.2% QoQ during the same period.
  • The bank's operating profit declined by 2.4% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 37.3% in 4QFY19 as against 39.7% in 3QFY18.
  • Net profit for the quarter declined by 63.4% QoQ, while net profit margins declined from 17.1% in 3QFY18 to 6.0% in 4QFY19.

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 1,871.2 to Rs 1,604.6, registering a Loss of Rs 266.6 or around 14.2%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 34,499.3 (up 0.7%). Over the last one year it has moved up from 29,241.8 to 34,499.3, a gain of 5,258 points (up 18.0%).

Overall, the S&P BSE SENSEX is up 13.3% over the year.

Current Valuations

At the current price of Rs 1,604.6, the price to earnings (P/E) ratio of INDUSIND BANK stands at 29.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.0 times.

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