PNB GILTS Announces Quarterly Results (3QFY19); Net Profit Up 770.8%

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PNB GILTS Announces Quarterly Results (3QFY19); Net Profit Up 770.8%
Fri, 22 Feb

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

PNB GILTS Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Operating incomeRs m6821,1792,01971.3%196.1%
Other incomeRs m10115.2%-7.0%
Total revenuesRs m6831,1792,02071.3%195.9%
InterestRs m8571,0251,0593.2%23.5%
Gross Profit Rs m-177152960530.3%
Other expensesRs m38334636.1%19.4%
Profit before taxRs m-214119915667.0%
TaxRs m-759-18-312.3%
Profit after taxRs m-139111933742.6%
Gross profit margin %-25.912.947.5
Effective tax rate%35.17.2-2.0
Net profit margin%-20.49.446.2
* 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 196.1% on a year-on-year (YoY) basis. The interest expended was up by 23.5% YoY during the same period.
  • The bank's operating profit declined by 643.5% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 47.5% in 3QFY19 as against 25.9% in 3QFY18.
  • Other income declined by 7.0% YoY during the quarter.
  • Net profit for the quarter increased by 770.8% YoY. Net profit margins during the quarter increased from -20.4% in 3QFY18 to 46.2% in 3QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 71.3% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 3.2% QoQ during the same period.
  • The bank's operating profit increased by 530.3% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 47.5% in 3QFY19 as against 12.9% in 2QFY18.
  • Net profit for the quarter increased by 742.6% QoQ, while net profit margins increased from 9.4% in 2QFY18 to 46.2% in 3QFY19.

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 36.6 to Rs 30.3, registering a Loss of Rs 6.3 or around 17.2%.

Overall, the S&P BSE SENSEX is up 6.0% over the year.

Current Valuations

At the current price of Rs 30.3, the price to earnings (P/E) ratio of PNB GILTS stands at 7.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.8 times.

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