INDIAN OVERSEAS BANK Announces Quarterly Results (1QFY20); Net Profit Up 62.8%

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

Markets will remain closed on 21st April, 2021 on account of Ram Navami.

INDIAN OVERSEAS BANK Announces Quarterly Results (1QFY20); Net Profit Up 62.8%
Wed, 24 Jul

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

INDIAN OVERSEAS BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Operating incomeRs m42,48645,56543,364-4.8%2.1%
Other incomeRs m10,7819,1746,701-27.0%-37.8%
Total revenuesRs m53,26754,73950,065-8.5%-6.0%
InterestRs m30,40530,77530,479-1.0%0.2%
Gross Profit Rs m12,08114,79012,885-12.9%6.7%
Other expensesRs m11,54212,64911,304-10.6%-2.1%
Profit before taxRs m-12,686-33,704-3,297
TaxRs m-3,491-13,853124
Profit after taxRs m-9,194-19,852-3,421
Gross profit margin %28.432.529.7
Effective tax rate%27.541.1-3.8
Net profit margin%-21.6-43.6-7.9
* 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 2.1% on a year-on-year (YoY) basis. The interest expended was up by 0.2% YoY during the same period.
  • The bank's operating profit increased by 6.7% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 29.7% in 1QFY20 as against 28.4% in 1QFY19.
  • Other income declined by 37.8% YoY during the quarter.
  • Net profit for the quarter increased by 62.8% YoY. Net profit margins during the quarter increased from -21.6% in 1QFY19 to -7.9% in 1QFY20.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter fell 4.8% on a quarter-on-quarter (QoQ) basis. The interest expended was down by 1.0% QoQ during the same period.
  • The bank's operating profit declined by 12.9% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 29.7% in 1QFY20 as against 32.5% in 4QFY19.
  • Net profit for the quarter increased by 82.8% QoQ, while net profit margins increased from -43.6% in 4QFY19 to -7.9% in 1QFY20.

To see how INDIAN OVERSEAS BANK has performed over the last eight quarters,please visit here.

INDIAN OVERSEAS BANK Share Price Performance

Over the last one year,INDIAN OVERSEAS BANK share price has moved down from Rs 13.9 to Rs 11.6, registering a Loss of Rs 2.4 or around 17.0%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 32,833.7 (down 0.2%). Over the last one year it has moved up from 29,954.1 to 32,833.7, a gain of 2,880 points (up 9.6%).

Overall, the S&P BSE SENSEX is up 3.3% over the year.

Current Valuations

At the current price of Rs 11.6, the price to book value (P/BV) ratio of INDIAN OVERSEAS BANK stands at 0.1 times.

Equitymaster requests your view! Post a comment on "INDIAN OVERSEAS BANK Announces Quarterly Results (1QFY20); Net Profit Up 62.8%". Click here!

  

Related Views on News

HDFC Bank Posts Good Q4 Performance Amid Covid-19 Second Wave (Company Info)

Apr 20, 2021

Key takeaways from HDFC Bank's March quarter (Q4FY21) results.

INDIAN OVERSEAS BANK Announces Quarterly Results (4QFY19); Net Profit Up 45.0% (Quarterly Result Update)

May 10, 2019 | Updated on May 10, 2019

For the quarter ended March 2019, INDIAN OVERSEAS BANK has posted a net profit of Rs 20 bn (up 45.0% YoY). Sales on the other hand came in at Rs 46 bn (down 5.6% YoY). Read on for a complete analysis of INDIAN OVERSEAS BANK's quarterly results.

How the YES Bank Collapse Unfolded - 10 Points (Sector Info)

Mar 9, 2020

A timeline of how YES Bank went from a stock market darling to a pariah.

Today's Stock Market Crash: 10 Points (Sector Info)

Mar 6, 2020

Top factors that dragged the markets lower today.

More Views on News

Most Popular

India: Recovery Stalled by Vaccine Games?(The Honest Truth)

Apr 13, 2021

Ajit Dayal on how India's vaccine strategy will impact the markets.

A Stock with 700% Return Potential Comes with Additional Payoffs(Profit Hunter)

Apr 15, 2021

Narayana Murthy was one of the first unicorn founders to get the backing of this entity...

11x Bankruptcy to Bluechip Stock: A Rare India Revival Story(Profit Hunter)

Apr 16, 2021

There is no stopping this 11-bagger stock from significant upside.

Top 3 Nifty ETFs to Buy Now(Fast Profits Daily)

Apr 20, 2021

In this video I tell you the three Nifty ETFs I think are the best.

Why Did the Market Crash on Monday?(Fast Profits Daily)

Apr 13, 2021

In this video, I'll you what I think is the real reason behind yesterday's market crash.

More

India's #1 Trader
Reveals His Secrets

Secret To Increasing Your Trading Profits Today
Get this Special Report,
The Secret to Increasing Your Trading Profits Today, Now!
We will never sell or rent your email id.
Please read our Terms

INDIAN OVERSEAS BANK SHARE PRICE


Apr 20, 2021 (Close)

TRACK INDIAN OVERSEAS BANK

  • Track your investment in INDIAN OVERSEAS BANK with Equitymaster's Portfolio Tracker. Set live price alerts, get research alerts and more. Get access now...
  • Add To MyStocks

MORE ON INDIAN OVERSEAS BANK

INDIAN OVERSEAS BANK - WELLS FARGO COMPARISON

COMPARE INDIAN OVERSEAS BANK WITH

MARKET STATS