MAGMA FINCORP Announces Quarterly Results (2QFY19); Net Profit Up 63.0%

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MAGMA FINCORP Announces Quarterly Results (2QFY19); Net Profit Up 63.0%
Mon, 12 Nov

MAGMA FINCORP has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

MAGMA FINCORP Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Operating incomeRs m5,3155,8626,2436.5%17.4%
Other incomeRs m182196150-23.2%-17.3%
Total revenuesRs m5,4976,0576,3935.5%16.3%
InterestRs m2,2812,6512,7453.6%20.4%
Gross Profit Rs m2,9183,0903,3739.2%15.6%
Other expensesRs m2,3032,3982,4552.4%6.6%
Profit before taxRs m7968871,06820.4%34.2%
TaxRs m308285273-4.3%-11.4%
Profit after taxRs m48860279532.2%63.0%
Gross profit margin %54.952.754.0
Effective tax rate%38.732.225.6
Net profit margin%9.210.312.7
* 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 17.4% on a year-on-year (YoY) basis. The interest expended was up by 20.4% YoY during the same period.
  • The bank's operating profit increased by 15.6% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 54.0% in 2QFY19 as against 54.9% in 2QFY18.
  • Other income declined by 17.3% YoY during the quarter.
  • Net profit for the quarter increased by 63.0% YoY. Net profit margins during the quarter increased from 9.2% in 2QFY18 to 12.7% in 2QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 6.5% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 3.6% QoQ during the same period.
  • The bank's operating profit increased by 9.2% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 54.0% in 2QFY19 as against 52.7% in 1QFY18.
  • Net profit for the quarter increased by 32.2% QoQ, while net profit margins increased from 10.3% in 1QFY18 to 12.7% in 2QFY19.

To see how MAGMA FINCORP has performed over the last eight quarters, please visit here.

MAGMA FINCORP Share Price Performance

Over the last one year, MAGMA FINCORP share price has moved up from Rs 173.7 to Rs 111.0, registering a Loss of Rs 62.8 or around 36.1%.

Overall, the S&P BSE SENSEX is up 5.7% over the year.

Current Valuations

At the current price of Rs 111.0, the price to earnings (P/E) ratio of MAGMA FINCORP stands at 7.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.4 times.

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For the quarter ended December 2018, MAGMA FINCORP has posted a net profit of Rs 767 m (up 18.0% YoY). Sales on the other hand came in at Rs 6 bn (up 7.6% YoY). Read on for a complete analysis of MAGMA FINCORP's quarterly results.

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For the quarter ended June 2018, MAGMA FINCORP has posted a net profit of Rs 602 m (up 33.2% YoY). Sales on the other hand came in at Rs 6 bn (up 6.8% YoY). Read on for a complete analysis of MAGMA FINCORP's quarterly results.

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