PUNJAB & SIND BANK Announces Quarterly Results (4QFY19); Net Profit Up 88.8%

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PUNJAB & SIND BANK Announces Quarterly Results (4QFY19); Net Profit Up 88.8%
Wed, 29 May

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

PUNJAB & SIND BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Operating incomeRs m19,66321,55720,182-6.4%2.6%
Other incomeRs m1,5581,8142,86257.7%83.7%
Total revenuesRs m21,22123,37123,044-1.4%8.6%
InterestRs m14,92916,21715,885-2.0%6.4%
Gross Profit Rs m4,7345,3404,297-19.5%-9.2%
Other expensesRs m5,0164,8143,117-35.2%-37.9%
Profit before taxRs m-4,765313-296-194.7%
TaxRs m48190289223.4%-39.9%
Profit after taxRs m-5,246223-586-362.2%
Gross profit margin %24.124.821.3
Effective tax rate%-10.128.6-97.7
Net profit margin%-26.71.0-2.9
* 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 2.6% on a year-on-year (YoY) basis. The interest expended was up by 6.4% YoY during the same period.
  • The bank's operating profit declined by 9.2% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 21.3% in 4QFY19 as against 24.1% in 4QFY18.
  • Other income increased by 83.7% YoY during the quarter.
  • Net profit for the quarter increased by 88.8% YoY. Net profit margins during the quarter increased from -26.7% in 4QFY18 to -2.9% in 4QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter fell 6.4% on a quarter-on-quarter (QoQ) basis. The interest expended was down by 2.0% QoQ during the same period.
  • The bank's operating profit declined by 19.5% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 21.3% in 4QFY19 as against 24.8% in 3QFY18.
  • Net profit for the quarter declined by 362.2% QoQ, while net profit margins declined from 1.0% in 3QFY18 to -2.9% in 4QFY19.

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 34.1 to Rs 28.0, registering a Loss of Rs 6.1 or around 17.8%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 35,354.3 (down 0.7%). Over the last one year it has moved up from 29,410.7 to 35,354.3, a gain of 5,944 points (up 20.2%).

Overall, the S&P BSE SENSEX is up 12.9% over the year.

Current Valuations

At the current price of Rs 28.0, the price to book value (P/BV) ratio of PUNJAB & SIND BANK stands at 0.2 times.

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