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.

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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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