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ORIENTAL BANK Announces Quarterly Results (1QFY19); Net Profit Down 19.1%

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ORIENTAL BANK Announces Quarterly Results (1QFY19); Net Profit Down 19.1%
Fri, 3 Aug

ORIENTAL BANK has announced its results for the quarter ended June 2018. Here is a detailed performance review of the same:

ORIENTAL BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-17*
3
Mar-18*
3
Jun-18*
QoQ ChangeYoY Change
Operating incomeRs m44,37742,46642,6920.5%-3.8%
Other incomeRs m7,6674,4254,6034.0%-40.0%
Total revenuesRs m52,04546,89147,2960.9%-9.1%
InterestRs m32,91431,51929,316-7.0%-10.9%
Gross Profit Rs m11,46410,94813,37622.2%16.7%
Other expensesRs m9,04811,36510,737-5.5%18.7%
Profit before taxRs m-4,612-19,342-8,152
TaxRs m250-2,840-4,220-1788.0%
Profit after taxRs m-4,862-16,502-3,932
Gross profit margin %25.825.831.3
Effective tax rate%-5.414.751.8
Net profit margin%-11.0-38.9-9.2
* 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 3.8% on a year-on-year (YoY) basis. The interest expended was down by 10.9% YoY during the same period.
  • The bank's operating profit increased by 16.7% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 31.3% in 1QFY19 as against 25.8% in 1QFY18.
  • Other income declined by 40.0% YoY during the quarter.
  • Net profit for the quarter declined by 19.1% YoY. Net profit margins during the quarter increased from -11.0% in 1QFY18 to -9.2% in 1QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 0.5% on a quarter-on-quarter (QoQ) basis. The interest expended was down by 7.0% QoQ during the same period.
  • The bank's operating profit increased by 22.2% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 31.3% in 1QFY19 as against 25.8% in 4QFY18.
  • Net profit for the quarter declined by 76.2% QoQ, while net profit margins increased from -38.9% in 4QFY18 to -9.2% in 1QFY19.

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

ORIENTAL BANK Share Price Performance

Over the last one year, ORIENTAL BANK share price has moved up from Rs 138.1 to Rs 82.0, registering a Loss of Rs 56.2 or around 40.7%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 30,918.7 (up 1.1%). Over the last one year it has moved up from 27,885.9 to 30,918.7, a gain of 3,033 points (up 10.9%).

Overall, the S&P BSE SENSEX is up 0.7% over the year.

Current Valuations

At the current price of Rs 82.0, the price to book value (P/BV) ratio of ORIENTAL BANK stands at 0.2 times.

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