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?  

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

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.

INDIAN OVERSEAS BANK Announces Quarterly Results (3QFY19); Net Profit Up 63.2% (Quarterly Result Update)

Jan 28, 2019 | Updated on Jan 28, 2019

For the quarter ended December 2018, INDIAN OVERSEAS BANK has posted a net profit of Rs 3 bn (up 63.2% YoY). Sales on the other hand came in at Rs 45 bn (up 6.8% YoY). Read on for a complete analysis of INDIAN OVERSEAS BANK's quarterly results.

Bandhan Bank IPO: A Microlender Turned Profitable Bank (IPO)

Mar 12, 2018

Is the IPO of one of India's newest private sector bank, Bandhan Bank, worth applying for?

More Views on News

Most Popular

My 3 Best Small-cap Stocks to Get Rich in this Market Rebound(Profit Hunter)

Oct 14, 2019

This is once in a decade opportunity to make a killing from smallcap rebound.

Buy these 3 Stocks for Rebound Riches

Oct 18, 2019

Equitymaster's smallcap guru and editor of Hidden Treasure, Richa Agarwal, talks to us about the rebound in the stock market, and the best stocks to profit from it. Listen in...

Two Stocks to Buy in the Great Indian Festival(Profit Hunter)

Oct 11, 2019

Discounts are not just limited to E-tailers. You can buy stocks at 50% off too. Here are two stocks to buy now.

The One Stock I Like in this Market(The 5 Minute Wrapup)

Oct 10, 2019

There are rare periods in markets when you get good quality stocks at attractive valuations. Is this one such period?

5 Smart Money Stocks to Profit from the Market Rebound(The 5 Minute Wrapup)

Oct 11, 2019

Now is the time to put money in these 5 stocks to take advantage of the recovery in the economy and the markets.

More

Get the Indian Stock Market's
Most Profitable Ideas

How To Beat Sensex Guide 2020
Get our special report, How to Beat Sensex Nearly 3X Now!
We will never sell or rent your email id.
Please read our Terms

INDIAN OVERSEAS BANK SHARE PRICE


Oct 22, 2019 03:37 PM

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 - DEUTSCHE BANK COMPARISON

COMPARE INDIAN OVERSEAS BANK WITH

MARKET STATS