ORIENTAL BANK Announces Quarterly Results (3QFY20); Net Profit Up 39.1%

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ORIENTAL BANK Announces Quarterly Results (3QFY20); Net Profit Up 39.1%
Fri, 24 Jan

ORIENTAL BANK has announced its results for the quarter ended December 2019. Here is a detailed performance review of the same:

ORIENTAL BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-18*
3
Sep-19*
3
Dec-19*
QoQ ChangeYoY Change
Operating incomeRs m45,61848,77646,569-4.5%2.1%
Other incomeRs m5,6628,2479,85719.5%74.1%
Total revenuesRs m51,28057,02356,426-1.0%10.0%
InterestRs m31,43034,22133,348-2.5%6.1%
Gross Profit Rs m14,18814,55613,221-9.2%-6.8%
Other expensesRs m9,82611,04110,948-0.8%11.4%
Profit before taxRs m-27,1752,1192,56421.0%
TaxRs m-28,624860548-36.3%
Profit after taxRs m1,4501,2592,01760.2%39.1%
Gross profit margin %31.129.828.4
Effective tax rate%105.340.621.4
Net profit margin%3.22.64.3
* 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 2.1% on a year-on-year (YoY) basis. The interest expended was up by 6.1% YoY during the same period.
  • The bank's operating profit declined by 6.8% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 28.4% in 3QFY20 as against 31.1% in 3QFY19.
  • Other income increased by 74.1% YoY during the quarter.
  • Net profit for the quarter increased by 39.1% YoY. Net profit margins during the quarter increased from 3.2% in 3QFY19 to 4.3% in 3QFY20.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter fell 4.5% on a quarter-on-quarter (QoQ) basis. The interest expended was down by 2.5% QoQ during the same period.
  • The bank's operating profit declined by 9.2% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 28.4% in 3QFY20 as against 29.8% in 2QFY19.
  • Net profit for the quarter increased by 60.2% QoQ, while net profit margins increased from 2.6% in 2QFY19 to 4.3% in 3QFY20.

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

DISCOVER: How to Potentially Multiply Your Returns by Upto 5x...

ORIENTAL BANK Share Price Performance

Over the last one year,ORIENTAL BANK share price has moved down from Rs 93.4 to Rs 54.6, registering a Loss of Rs 38.8 or around 41.5%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 35,471.7 (up 0.4%). Over the last one year it has moved up from 30,570.5 to 35,471.7, a gain of 4,901 points (up 16.0%).

Overall, the S&P BSE SENSEX is up 14.9% over the year.

Current Valuations

At the current price of Rs 54.6, 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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ORIENTAL BANK Announces Quarterly Results (2QFY20); Net Profit Up 23.7% (Quarterly Result Update)

Oct 25, 2019 | Updated on Oct 25, 2019

For the quarter ended September 2019, ORIENTAL BANK has posted a net profit of Rs 1 bn (up 23.7% YoY). Sales on the other hand came in at Rs 49 bn (up 13.7% YoY). Read on for a complete analysis of ORIENTAL BANK's quarterly results.

ORIENTAL BANK Announces Quarterly Results (1QFY20); Net Profit Up 128.7% (Quarterly Result Update)

Jul 24, 2019 | Updated on Jul 24, 2019

For the quarter ended June 2019, ORIENTAL BANK has posted a net profit of Rs 1 bn (up 128.7% YoY). Sales on the other hand came in at Rs 49 bn (up 15.2% YoY). Read on for a complete analysis of ORIENTAL BANK's quarterly results.

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