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- ORIENTAL BANK Announces Quarterly Results (2QFY20); Net Profit Up 23.7%
ORIENTAL BANK Announces Quarterly Results (2QFY20); Net Profit Up 23.7%
Fri, 25 Oct
ORIENTAL BANK has announced its results for the quarter ended September 2019. Here is a detailed performance review of the same:
ORIENTAL BANK Quarterly Financials
| No. of Mths Qtr. Ending | 3 Sep-18* | 3 Jun-19* | 3 Sep-19* | QoQ Change | YoY Change | |
|---|---|---|---|---|---|---|
| Operating income | Rs m | 42,896 | 49,198 | 48,776 | -0.9% | 13.7% |
| Other income | Rs m | 6,777 | 7,152 | 8,247 | 15.3% | 21.7% |
| Total revenues | Rs m | 49,673 | 56,350 | 57,023 | 1.2% | 14.8% |
| Interest | Rs m | 30,147 | 35,482 | 34,221 | -3.6% | 13.5% |
| Gross Profit | Rs m | 12,748 | 13,716 | 14,556 | 6.1% | 14.2% |
| Other expenses | Rs m | 9,801 | 10,617 | 11,041 | 4.0% | 12.7% |
| Profit before tax | Rs m | -1,013 | 1,827 | 2,119 | 16.0% | |
| Tax | Rs m | -2,030 | 700 | 860 | 22.9% | |
| Profit after tax | Rs m | 1,017 | 1,127 | 1,259 | 11.7% | 23.7% |
| Gross profit margin | % | 29.7 | 27.9 | 29.8 | ||
| Effective tax rate | % | 200.5 | 38.3 | 40.6 | ||
| Net profit margin | % | 2.4 | 2.3 | 2.6 |
Interim results exclude extraordinary / exceptional items
Year-on-Year Performance:
- The bank's operating income (interest earned) during the quarter grew 13.7% on a year-on-year (YoY) basis. The interest expended was up by 13.5% YoY during the same period.
- The bank's operating profit increased by 14.2% YoY during the quarter. Consequently, operating profit margins remained same and stood at 29.8% in 2QFY20.
- Other income increased by 21.7% YoY during the quarter.
- Net profit for the quarter increased by 23.7% YoY. Net profit margins during the quarter increased from 2.4% in 2QFY19 to 2.6% in 2QFY20.
Quarter-on-Quarter Performance:
- The bank's operating income (interest earned) during the quarter fell 0.9% on a quarter-on-quarter (QoQ) basis. The interest expended was down by 3.6% QoQ during the same period.
- The bank's operating profit increased by 6.1% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 29.8% in 2QFY20 as against 27.9% in 1QFY19.
- Net profit for the quarter increased by 11.7% QoQ, while net profit margins increased from 2.3% in 1QFY19 to 2.6% in 2QFY20.
To see how ORIENTAL BANK has performed over the last eight quarters,please visit here.
Get Details: These 3 Stocks are the Dark Horses of the Stock Market
ORIENTAL BANK Share Price Performance
Over the last one year,ORIENTAL BANK share price has moved down from Rs 66.4 to Rs 50.2, registering a Loss of Rs 16.2 or around 24.3%.
Meanwhile, the S&P BSE BANKEX is trading at Rs 32,960.1 (up 0.1%). Over the last one year it has moved up from 27,706.1 to 32,960.1, a gain of 5,254 points (up 19.0%).
Overall, the S&P BSE SENSEX is up 14.6% over the year.
Current Valuations
At the current price of Rs 50.2, the price to earnings (P/E) ratio of ORIENTAL BANK stands at 2.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.1 times.
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