POWER FIN CORP Announces Quarterly Results (3QFY19); Net Profit Up 29.4%

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POWER FIN CORP Announces Quarterly Results (3QFY19); Net Profit Up 29.4%
Fri, 15 Feb

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

POWER FIN CORP Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Operating incomeRs m61,94874,07173,623-0.6%18.8%
Other incomeRs m1,2585616-71.4%-98.7%
Total revenuesRs m63,20674,12773,639-0.7%16.5%
InterestRs m43,59546,71847,9012.5%9.9%
Gross Profit Rs m18,33427,34025,706-6.0%40.2%
Other expensesRs m-1,5316,832-1,883-127.6%
Profit before taxRs m21,12420,56427,60534.2%30.7%
TaxRs m5,0797,0136,847-2.4%34.8%
Profit after taxRs m16,04413,55120,75853.2%29.4%
Gross profit margin %29.636.934.9
Effective tax rate%24.034.124.8
Net profit margin%25.918.328.2
* 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 18.8% on a year-on-year (YoY) basis. The interest expended was up by 9.9% YoY during the same period.
  • The bank's operating profit increased by 40.2% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 34.9% in 3QFY19 as against 29.6% in 3QFY18.
  • Other income declined by 98.7% YoY during the quarter.
  • Net profit for the quarter increased by 29.4% YoY. Net profit margins during the quarter increased from 25.9% in 3QFY18 to 28.2% in 3QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter fell 0.6% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 2.5% QoQ during the same period.
  • The bank's operating profit declined by 6.0% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 34.9% in 3QFY19 as against 36.9% in 2QFY18.
  • Net profit for the quarter increased by 53.2% QoQ, while net profit margins increased from 18.3% in 2QFY18 to 28.2% in 3QFY19.

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 108.8 to Rs 102.0, registering a Loss of Rs 6.8 or around 6.3%.

Overall, the S&P BSE SENSEX is up 4.3% over the year.

Current Valuations

At the current price of Rs 102.0, the price to earnings (P/E) ratio of POWER FIN CORP stands at 4.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.7 times.

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