J&K BANK Announces Quarterly Results (4QFY19); Net Profit Up 656.1%

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J&K BANK Announces Quarterly Results (4QFY19); Net Profit Up 656.1%
Fri, 17 May

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

J&K BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Operating incomeRs m15,91720,02720,6993.4%30.0%
Other incomeRs m1,7231,6354,036146.8%134.3%
Total revenuesRs m17,64021,66224,73514.2%40.2%
InterestRs m9,35911,21111,3861.6%21.7%
Gross Profit Rs m6,5588,8169,3135.6%42.0%
Other expensesRs m5,6166,2027,34218.4%30.7%
Profit before taxRs m1541,7212,22729.4%1350.5%
TaxRs m-13168479-88.5%
Profit after taxRs m2841,0382,148107.0%656.1%
Gross profit margin %41.244.045.0
Effective tax rate%-85.139.73.5
Net profit margin%1.85.210.4
* 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 30.0% on a year-on-year (YoY) basis. The interest expended was up by 21.7% YoY during the same period.
  • The bank's operating profit increased by 42.0% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 45.0% in 4QFY19 as against 41.2% in 4QFY18.
  • Other income increased by 134.3% YoY during the quarter.
  • Net profit for the quarter increased by 656.1% YoY. Net profit margins during the quarter increased from 1.8% in 4QFY18 to 10.4% in 4QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 3.4% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 1.6% QoQ during the same period.
  • The bank's operating profit increased by 5.6% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 45.0% in 4QFY19 as against 44.0% in 3QFY18.
  • Net profit for the quarter increased by 107.0% QoQ, while net profit margins increased from 5.2% in 3QFY18 to 10.4% in 4QFY19.

To see how J&K BANK has performed over the last eight quarters, please visit here.

J&K BANK Share Price Performance

Over the last one year, J&K BANK share price has moved up from Rs 51.9 to Rs 56.8, registering a Gain of Rs 4.9 or around 9.4%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 32,367.0 (up 0.4%). Over the last one year it has moved up from 29,171.3 to 32,367.0, a gain of 3,196 points (up 11.0%).

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

Current Valuations

At the current price of Rs 56.8, the price to earnings (P/E) ratio of J&K BANK stands at 5.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.4 times.

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