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PUNJAB & SIND BANK Announces Quarterly Results (1QFY19); Net Profit Down 1668.9%

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PUNJAB & SIND BANK Announces Quarterly Results (1QFY19); Net Profit Down 1668.9%
Fri, 10 Aug

PUNJAB & SIND BANK has announced its results for the quarter ended June 2018. Here is a detailed performance review of the same:

PUNJAB & SIND BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-17*
3
Mar-18*
3
Jun-18*
QoQ ChangeYoY Change
Operating incomeRs m19,39919,66321,84811.1%12.6%
Other incomeRs m1,2271,5581,513-2.9%23.3%
Total revenuesRs m20,62621,22123,36010.1%13.3%
InterestRs m13,74114,92914,741-1.3%7.3%
Gross Profit Rs m5,6584,7347,10750.1%25.6%
Other expensesRs m3,8305,0164,538-9.5%18.5%
Profit before taxRs m533-4,765-6,172-1258.6%
TaxRs m279481-2,192-555.3%-885.6%
Profit after taxRs m254-5,246-3,980-1668.9%
Gross profit margin %29.224.132.5
Effective tax rate%52.4-10.135.5
Net profit margin%1.3-26.7-18.2
* 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 12.6% on a year-on-year (YoY) basis. The interest expended was up by 7.3% YoY during the same period.
  • The bank's operating profit increased by 25.6% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 32.5% in 1QFY19 as against 29.2% in 1QFY18.
  • Other income increased by 23.3% YoY during the quarter.
  • Net profit for the quarter declined by 1668.9% YoY. Net profit margins during the quarter declined from 1.3% in 1QFY18 to -18.2% in 1QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 11.1% on a quarter-on-quarter (QoQ) basis. The interest expended was down by 1.3% QoQ during the same period.
  • The bank's operating profit increased by 50.1% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 32.5% in 1QFY19 as against 24.1% in 4QFY18.
  • Net profit for the quarter declined by 24.1% QoQ, while net profit margins increased from -26.7% in 4QFY18 to -18.2% in 1QFY19.

To see how PUNJAB & SIND BANK has performed over the last eight quarters, please visit here.

PUNJAB & SIND BANK Share Price Performance

Over the last one year, PUNJAB & SIND BANK share price has moved up from Rs 48.5 to Rs 30.3, registering a Loss of Rs 18.2 or around 37.5%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 31,748.2 (down 0.8%). Over the last one year it has moved up from 27,339.7 to 31,748.2, a gain of 4,409 points (up 16.1%).

Overall, the S&P BSE SENSEX is up 19.1% over the year.

Current Valuations

At the current price of Rs 30.3, the price to book value (P/BV) ratio of PUNJAB & SIND BANK stands at 0.2 times.

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