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- PUNJAB & SIND BANK Announces Quarterly Results (3QFY19); Net Profit Up 108.7%
PUNJAB & SIND BANK Announces Quarterly Results (3QFY19); Net Profit Up 108.7%
Wed, 13 Feb
PUNJAB & SIND BANK has announced its results for the quarter ended December 2018. Here is a detailed performance review of the same:
PUNJAB & SIND BANK Quarterly Financials
| No. of Mths Qtr. Ending | 3 Dec-17* | 3 Sep-18* | 3 Dec-18* | QoQ Change | YoY Change | |
|---|---|---|---|---|---|---|
| Operating income | Rs m | 20,439 | 22,000 | 21,557 | -2.0% | 5.5% |
| Other income | Rs m | 1,348 | 2,094 | 1,814 | -13.4% | 34.6% |
| Total revenues | Rs m | 21,787 | 24,094 | 23,371 | -3.0% | 7.3% |
| Interest | Rs m | 14,439 | 15,947 | 16,217 | 1.7% | 12.3% |
| Gross Profit | Rs m | 6,000 | 6,053 | 5,340 | -11.8% | -11.0% |
| Other expenses | Rs m | 3,817 | 4,642 | 4,814 | 3.7% | 26.1% |
| Profit before tax | Rs m | -2,354 | -2,432 | 313 | ||
| Tax | Rs m | 229 | -1,340 | 90 | -60.8% | |
| Profit after tax | Rs m | -2,583 | -1,092 | 223 | ||
| Gross profit margin | % | 29.4 | 27.5 | 24.8 | ||
| Effective tax rate | % | -9.7 | 55.1 | 28.6 | ||
| Net profit margin | % | -12.6 | -5.0 | 1.0 |
Interim results exclude extraordinary / exceptional items
Year-on-Year Performance:
- The bank's operating income (interest earned) during the quarter grew 5.5% on a year-on-year (YoY) basis. The interest expended was up by 12.3% YoY during the same period.
- The bank's operating profit declined by 11.0% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 24.8% in 3QFY19 as against 29.4% in 3QFY18.
- Other income increased by 34.6% YoY during the quarter.
- Net profit for the quarter increased by 108.7% YoY. Net profit margins during the quarter increased from -12.6% in 3QFY18 to 1.0% in 3QFY19.
Quarter-on-Quarter Performance:
- The bank's operating income (interest earned) during the quarter fell 2.0% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 1.7% QoQ during the same period.
- The bank's operating profit declined by 11.8% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 24.8% in 3QFY19 as against 27.5% in 2QFY18.
- Net profit for the quarter increased by 120.5% QoQ, while net profit margins increased from -5.0% in 2QFY18 to 1.0% in 3QFY19.
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 42.2 to Rs 25.9, registering a Loss of Rs 16.4 or around 38.7%.
Meanwhile, the S&P BSE BANKEX is trading at Rs 30,116.8 (down 0.2%). Over the last one year it has moved up from 29,080.0 to 30,116.8, a gain of 1,037 points (up 3.6%).
Overall, the S&P BSE SENSEX is up 5.6% over the year.
Current Valuations
At the current price of Rs 25.9, the price to book value (P/BV) ratio of PUNJAB & SIND BANK stands at 0.2 times.
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