INDUSIND BANK Announces Quarterly Results (4QFY20); Net Profit Down 16.2%

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INDUSIND BANK Announces Quarterly Results (4QFY20); Net Profit Down 16.2%
Wed, 29 Apr

INDUSIND BANK has announced its results for the quarter ended March 2020. Here is a detailed performance review of the same:

INDUSIND BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-19*
3
Dec-19*
3
Mar-20*
QoQ ChangeYoY Change
Operating incomeRs m59,91472,84573,8661.4%23.3%
Other incomeRs m15,59017,89417,720-1.0%13.7%
Total revenuesRs m75,50490,73991,5860.9%21.3%
InterestRs m37,59142,10541,554-1.3%10.5%
Gross Profit Rs m22,32430,74032,3125.1%44.7%
Other expensesRs m17,23721,17821,6702.3%25.7%
Profit before taxRs m5,07017,0223,959-76.7%-21.9%
TaxRs m1,4694,020940-76.6%-36.0%
Profit after taxRs m3,60113,0023,018-76.8%-16.2%
Gross profit margin %37.342.243.7
Effective tax rate%29.023.623.7
Net profit margin%6.017.84.1
* 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 23.3% on a year-on-year (YoY) basis. The interest expended was up by 10.5% YoY during the same period.
  • The bank's operating profit increased by 44.7% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 43.7% in 4QFY20 as against 37.3% in 4QFY19.
  • Other income increased by 13.7% YoY during the quarter.
  • Net profit for the quarter declined by 16.2% YoY. Net profit margins during the quarter declined from 6.0% in 4QFY19 to 4.1% in 4QFY20.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 1.4% on a quarter-on-quarter (QoQ) basis. The interest expended was down by 1.3% QoQ during the same period.
  • The bank's operating profit increased by 5.1% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 43.7% in 4QFY20 as against 42.2% in 3QFY19.
  • Net profit for the quarter declined by 76.8% QoQ, while net profit margins declined from 17.8% in 3QFY19 to 4.1% in 4QFY20.

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 1,696.1 to Rs 449.7, registering a Loss of Rs 1,246.4 or around 73.5%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 23,769.7 (down 0.1%). Over the last one year it has moved down from 33,741.8 to 23,769.7, a loss of 9,972 points (down 29.6%).

Overall, the S&P BSE SENSEX is down 17.1% over the year.

Current Valuations

At the current price of Rs 449.7, the price to earnings (P/E) ratio of INDUSIND BANK stands at 6.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.0 times.

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