PNB GILTS Announces Quarterly Results (2QFY19); Net Profit Down 23.4%

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PNB GILTS Announces Quarterly Results (2QFY19); Net Profit Down 23.4%
Thu, 29 Nov

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

PNB GILTS Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Operating incomeRs m1,1504151,179184.3%2.5%
Other incomeRs m110-53.5%-9.8%
Total revenuesRs m1,1504161,179183.8%2.5%
InterestRs m8958001,02528.1%14.6%
Gross Profit Rs m254-387152-39.9%
Other expensesRs m394733-29.4%-13.8%
Profit before taxRs m215-433119-44.6%
TaxRs m7199-9.0%-87.9%
Profit after taxRs m145-442111-23.4%
Gross profit margin %22.1-93.312.9
Effective tax rate%32.8-2.27.2
Net profit margin%12.6-106.79.4
* 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 2.5% on a year-on-year (YoY) basis. The interest expended was up by 14.6% YoY during the same period.
  • The bank's operating profit declined by 39.9% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 12.9% in 2QFY19 as against 22.1% in 2QFY18.
  • Other income declined by 9.8% YoY during the quarter.
  • Net profit for the quarter declined by 23.4% YoY. Net profit margins during the quarter declined from 12.6% in 2QFY18 to 9.4% in 2QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 184.3% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 28.1% QoQ during the same period.
  • The bank's operating profit increased by 139.4% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 12.9% in 2QFY19 as against 93.3% in 1QFY18.
  • Net profit for the quarter increased by 125.0% QoQ, while net profit margins increased from -106.5% in 1QFY18 to 9.4% in 2QFY19.

To see how PNB GILTS has performed over the last eight quarters, please visit here.

PNB GILTS Share Price Performance

Over the last one year, PNB GILTS share price has moved up from Rs 47.6 to Rs 30.8, registering a Loss of Rs 16.8 or around 35.3%.

Overall, the S&P BSE SENSEX is up 7.1% over the year.

Current Valuations

At the current price of Rs 30.8, the price to book value (P/BV) ratio of PNB GILTS stands at 0.8 times.

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Nov 18, 2019 11:29 AM

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