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POWER FIN CORP Announces Quarterly Results (2QFY19); Net Profit Down 28.2%

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POWER FIN CORP Announces Quarterly Results (2QFY19); Net Profit Down 28.2%
Mon, 12 Nov

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

POWER FIN CORP Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Operating incomeRs m70,33470,27574,0715.4%5.3%
Other incomeRs m75224656-77.2%-92.6%
Total revenuesRs m71,08670,52174,1275.1%4.3%
InterestRs m43,08249,40646,718-5.4%8.4%
Gross Profit Rs m27,23820,85727,34031.1%0.4%
Other expensesRs m1,8346936,832885.4%272.6%
Profit before taxRs m26,15620,40920,5640.8%-21.4%
TaxRs m7,2906,6767,0135.0%-3.8%
Profit after taxRs m18,86613,73313,551-1.3%-28.2%
Gross profit margin %38.729.736.9
Effective tax rate%27.932.734.1
Net profit margin%26.819.518.3
* 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 5.3% on a year-on-year (YoY) basis. The interest expended was up by 8.4% YoY during the same period.
  • The bank's operating profit increased by 0.4% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 36.9% in 2QFY19 as against 38.7% in 2QFY18.
  • Other income declined by 92.6% YoY during the quarter.
  • Net profit for the quarter declined by 28.2% YoY. Net profit margins during the quarter declined from 26.8% in 2QFY18 to 18.3% in 2QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 5.4% on a quarter-on-quarter (QoQ) basis. The interest expended was down by 5.4% QoQ during the same period.
  • The bank's operating profit increased by 31.1% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 36.9% in 2QFY19 as against 29.7% in 1QFY18.
  • Net profit for the quarter declined by 1.3% QoQ, while net profit margins declined from 19.5% in 1QFY18 to 18.3% in 2QFY19.

To see how POWER FIN CORP has performed over the last eight quarters, please visit here.

POWER FIN CORP Share Price Performance

Over the last one year, POWER FIN CORP share price has moved up from Rs 126.6 to Rs 101.1, registering a Loss of Rs 25.5 or around 20.1%.

Overall, the S&P BSE SENSEX is up 5.7% over the year.

Current Valuations

At the current price of Rs 101.1, the price to earnings (P/E) ratio of POWER FIN CORP stands at 5.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.7 times.

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For the quarter ended December 2018, POWER FIN CORP has posted a net profit of Rs 21 bn (up 29.4% YoY). Sales on the other hand came in at Rs 74 bn (up 18.8% YoY). Read on for a complete analysis of POWER FIN CORP's quarterly results.

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