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ORIENTAL BANK Announces Quarterly Results (2QFY19); Net Profit Up 105.8%

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ORIENTAL BANK Announces Quarterly Results (2QFY19); Net Profit Up 105.8%
Fri, 9 Nov

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

ORIENTAL BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Operating incomeRs m44,52542,69242,8960.5%-3.7%
Other incomeRs m10,5924,6036,77747.2%-36.0%
Total revenuesRs m55,11747,29649,6735.0%-9.9%
InterestRs m32,00729,31630,1472.8%-5.8%
Gross Profit Rs m12,51713,37612,748-4.7%1.8%
Other expensesRs m7,59610,7379,801-8.7%29.0%
Profit before taxRs m-17,299-8,152-1,013
TaxRs m200-4,220-2,030-1115.0%
Profit after taxRs m-17,499-3,9321,017
Gross profit margin %28.131.329.7
Effective tax rate%-1.251.8200.5
Net profit margin%-39.3-9.22.4
* 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 fell 3.7% on a year-on-year (YoY) basis. The interest expended was down by 5.8% YoY during the same period.
  • The bank's operating profit increased by 1.8% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 29.7% in 2QFY19 as against 28.1% in 2QFY18.
  • Other income declined by 36.0% YoY during the quarter.
  • Net profit for the quarter increased by 105.8% YoY. Net profit margins during the quarter increased from -39.3% in 2QFY18 to 2.4% in 2QFY19.
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 up by 2.8% QoQ during the same period.
  • The bank's operating profit declined by 4.7% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 29.7% in 2QFY19 as against 31.3% in 1QFY18.
  • Net profit for the quarter increased by 125.9% QoQ, while net profit margins increased from -9.2% in 1QFY18 to 2.4% in 2QFY19.

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 128.5 to Rs 87.0, registering a Loss of Rs 41.5 or around 32.3%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 29,042.3 (up 0.0%). Over the last one year it has moved up from 28,634.8 to 29,042.3, a gain of 408 points (up 1.4%).

Overall, the S&P BSE SENSEX is up 5.3% over the year.

Current Valuations

At the current price of Rs 87.0, the price to book value (P/BV) ratio of ORIENTAL BANK stands at 0.2 times.

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