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

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INDIAN OVERSEAS BANK Announces Quarterly Results (4QFY19); Net Profit Up 45.0%
Fri, 10 May

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

INDIAN OVERSEAS BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Operating incomeRs m48,27645,42445,5650.3%-5.6%
Other incomeRs m9,86911,4629,174-20.0%-7.0%
Total revenuesRs m58,14456,88654,739-3.8%-5.9%
InterestRs m30,94531,58730,775-2.6%-0.6%
Gross Profit Rs m17,33013,83714,7906.9%-14.7%
Other expensesRs m15,90710,63712,64918.9%-20.5%
Profit before taxRs m-56,454-6,091-33,704
TaxRs m-20,387-2,631-13,853
Profit after taxRs m-36,067-3,460-19,852
Gross profit margin %35.930.532.5
Effective tax rate%36.143.241.1
Net profit margin%-74.7-7.6-43.6
* 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 fell 5.6% on a year-on-year (YoY) basis. The interest expended was down by 0.6% YoY during the same period.
  • The bank's operating profit declined by 14.7% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 32.5% in 4QFY19 as against 35.9% in 4QFY18.
  • Other income declined by 7.0% YoY during the quarter.
  • Net profit for the quarter increased by 45.0% YoY. Net profit margins during the quarter increased from -74.7% in 4QFY18 to -43.6% in 4QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 0.3% on a quarter-on-quarter (QoQ) basis. The interest expended was down by 2.6% QoQ during the same period.
  • The bank's operating profit increased by 6.9% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 32.5% in 4QFY19 as against 30.5% in 3QFY18.
  • Net profit for the quarter declined by 473.7% QoQ, while net profit margins declined from -7.6% in 3QFY18 to -43.6% in 4QFY19.

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 up from Rs 17.8 to Rs 13.2, registering a Loss of Rs 4.6 or around 25.7%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 32,421.2 (up 0.5%). Over the last one year it has moved up from 29,357.7 to 32,421.2, a gain of 3,063 points (up 10.4%).

Overall, the S&P BSE SENSEX is up 6.2% over the year.

Current Valuations

At the current price of Rs 13.2, the price to book value (P/BV) ratio of INDIAN OVERSEAS BANK stands at 0.1 times.

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