MAGMA FINCORP Announces Quarterly Results (3QFY19); Net Profit Up 18.0%

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MAGMA FINCORP Announces Quarterly Results (3QFY19); Net Profit Up 18.0%
Fri, 1 Feb

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

MAGMA FINCORP Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Operating incomeRs m5,8066,2436,2470.1%7.6%
Other incomeRs m9915092-38.8%-6.8%
Total revenuesRs m5,9046,3936,339-0.8%7.4%
InterestRs m2,2072,7452,8694.5%30.0%
Gross Profit Rs m3,4813,3733,258-3.4%-6.4%
Other expensesRs m2,6552,4552,154-12.3%-18.9%
Profit before taxRs m9241,0681,19611.9%29.4%
TaxRs m27427342956.9%56.5%
Profit after taxRs m650795767-3.5%18.0%
Gross profit margin %60.054.052.1
Effective tax rate%29.625.635.8
Net profit margin%11.212.712.3
* 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 7.6% on a year-on-year (YoY) basis. The interest expended was up by 30.0% YoY during the same period.
  • The bank's operating profit declined by 6.4% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 52.1% in 3QFY19 as against 60.0% in 3QFY18.
  • Other income declined by 6.8% YoY during the quarter.
  • Net profit for the quarter increased by 18.0% YoY. Net profit margins during the quarter increased from 11.2% in 3QFY18 to 12.3% in 3QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 0.1% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 4.5% QoQ during the same period.
  • The bank's operating profit declined by 3.4% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 52.1% in 3QFY19 as against 54.0% in 2QFY18.
  • Net profit for the quarter declined by 3.5% QoQ, while net profit margins declined from 12.7% in 2QFY18 to 12.3% in 3QFY19.

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 164.0 to Rs 102.3, registering a Loss of Rs 61.7 or around 37.6%.

Overall, the S&P BSE SENSEX is up 1.2% over the year.

Current Valuations

At the current price of Rs 102.3, the price to earnings (P/E) ratio of MAGMA FINCORP stands at 6.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.3 times.

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