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ORIENTAL BANK Announces Quarterly Results (4QFY19); Net Profit Up 112.2%

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ORIENTAL BANK Announces Quarterly Results (4QFY19); Net Profit Up 112.2%
Wed, 15 May

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

ORIENTAL BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Operating incomeRs m42,46645,61847,5374.2%11.9%
Other incomeRs m4,4255,6629,58269.2%116.6%
Total revenuesRs m46,89151,28057,11911.4%21.8%
InterestRs m31,51931,43032,8024.4%4.1%
Gross Profit Rs m10,94814,18814,7353.9%34.6%
Other expensesRs m11,3659,82613,77040.1%21.2%
Profit before taxRs m-19,342-27,17532
TaxRs m-2,840-28,624-1,983
Profit after taxRs m-16,5021,4502,01539.0%
Gross profit margin %25.831.131.0
Effective tax rate%14.7105.3-6,236.5
Net profit margin%-38.93.24.2
* 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 grew 11.9% on a year-on-year (YoY) basis. The interest expended was up by 4.1% YoY during the same period.
  • The bank's operating profit increased by 34.6% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 31.0% in 4QFY19 as against 25.8% in 4QFY18.
  • Other income increased by 116.6% YoY during the quarter.
  • Net profit for the quarter increased by 112.2% YoY. Net profit margins during the quarter increased from -38.9% in 4QFY18 to 4.2% in 4QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 4.2% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 4.4% QoQ during the same period.
  • The bank's operating profit declined by 3.9% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 31.0% in 4QFY19 as against 31.1% in 3QFY18.
  • Net profit for the quarter increased by 39.0% QoQ, while net profit margins increased from 3.2% in 3QFY18 to 4.2% in 4QFY19.

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 81.9 to Rs 92.2, registering a Gain of Rs 10.3 or around 12.5%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 32,369.5 (up 0.4%). Over the last one year it has moved up from 29,706.5 to 32,369.5, a gain of 2,663 points (up 9.0%).

Overall, the S&P BSE SENSEX is up 5.5% over the year.

Current Valuations

At the current price of Rs 92.2, the price to earnings (P/E) ratio of ORIENTAL BANK stands at 50.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.2 times.

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