PUNJAB & SIND BANK Announces Quarterly Results (1QFY20); Net Profit Up 92.4%

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PUNJAB & SIND BANK Announces Quarterly Results (1QFY20); Net Profit Up 92.4%
Tue, 13 Aug

PUNJAB & SIND BANK has announced its results for the quarter ended June 2019. Here is a detailed performance review of the same:

PUNJAB & SIND BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Operating incomeRs m21,84820,18220,7092.6%-5.2%
Other incomeRs m1,5132,8621,670-41.7%10.4%
Total revenuesRs m23,36023,04422,379-2.9%-4.2%
InterestRs m14,74115,88515,034-5.4%2.0%
Gross Profit Rs m7,1074,2975,67632.1%-20.1%
Other expensesRs m4,5383,1174,65049.2%2.5%
Profit before taxRs m-6,172-296-650
TaxRs m-2,192289-347-219.9%
Profit after taxRs m-3,980-586-303
Gross profit margin %32.521.327.4
Effective tax rate%35.5-97.753.4
Net profit margin%-18.2-2.9-1.5
* 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 fell 5.2% on a year-on-year (YoY) basis. The interest expended was up by 2.0% YoY during the same period.
  • The bank's operating profit declined by 20.1% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 27.4% in 1QFY20 as against 32.5% in 1QFY19.
  • Other income increased by 10.4% YoY during the quarter.
  • Net profit for the quarter increased by 92.4% YoY. Net profit margins during the quarter increased from -18.2% in 1QFY19 to -1.5% in 1QFY20.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 2.6% 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 32.1% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 27.4% in 1QFY20 as against 21.3% in 4QFY19.
  • Net profit for the quarter increased by 48.3% QoQ, while net profit margins increased from -2.9% in 4QFY19 to -1.5% in 1QFY20.

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 down from Rs 29.9 to Rs 23.6, registering a Loss of Rs 6.3 or around 21.1%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 31,825.3 (down 0.9%). Over the last one year it has moved up from 31,368.3 to 31,825.3, a gain of 457 points (up 1.5%).

Overall, the S&P BSE SENSEX is down 1.3% over the year.

Current Valuations

At the current price of Rs 23.6, the price to book value (P/BV) ratio of PUNJAB & SIND BANK stands at 0.2 times.

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