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RURAL ELECT. Announces Quarterly Results (3QFY19); Net Profit Down 1.7%

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RURAL ELECT. Announces Quarterly Results (3QFY19); Net Profit Down 1.7%
Mon, 11 Feb

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

RURAL ELECT. Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Operating incomeRs m54,98572,86272,522-0.5%31.9%
Other incomeRs m1,04313052-59.7%-95.0%
Total revenuesRs m56,02772,99272,575-0.6%29.5%
InterestRs m34,34237,78940,8948.2%19.1%
Gross Profit Rs m20,62935,05731,609-9.8%53.2%
Other expensesRs m2,9249,93213,36234.5%357.0%
Profit before taxRs m18,74825,25518,299-27.5%-2.4%
TaxRs m5,7847,6115,554-27.0%-4.0%
Profit after taxRs m12,96417,64312,746-27.8%-1.7%
Gross profit margin %37.548.143.6
Effective tax rate%30.930.130.3
Net profit margin%23.624.217.6
* 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 31.9% on a year-on-year (YoY) basis. The interest expended was up by 19.1% YoY during the same period.
  • The bank's operating profit increased by 53.2% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 43.6% in 3QFY19 as against 37.5% in 3QFY18.
  • Other income declined by 95.0% YoY during the quarter.
  • Net profit for the quarter declined by 1.7% YoY. Net profit margins during the quarter declined from 23.6% in 3QFY18 to 17.6% in 3QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter fell 0.5% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 8.2% QoQ during the same period.
  • The bank's operating profit declined by 9.8% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 43.6% in 3QFY19 as against 48.1% in 2QFY18.
  • Net profit for the quarter declined by 27.8% QoQ, while net profit margins declined from 24.2% in 2QFY18 to 17.6% in 3QFY19.

To see how RURAL ELECT. has performed over the last eight quarters, please visit here.

RURAL ELECT. Share Price Performance

Over the last one year, RURAL ELECT. share price has moved up from Rs 150.2 to Rs 116.9, registering a Loss of Rs 33.4 or around 22.2%.

Overall, the S&P BSE SENSEX is up 5.6% over the year.

Current Valuations

At the current price of Rs 116.9, the price to earnings (P/E) ratio of RURAL ELECT. stands at 4.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.6 times.

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RURAL ELECT. Announces Quarterly Results (1QFY19); Net Profit Up 12.9% (Quarterly Result Update)

Sep 17, 2018 | Updated on Sep 17, 2018

For the quarter ended June 2018, RURAL ELECT. has posted a net profit of Rs 15 bn (up 12.9% YoY). Sales on the other hand came in at Rs 57 bn (up 3.0% YoY). Read on for a complete analysis of RURAL ELECT.'s quarterly results.

RURAL ELECT. Announces Quarterly Results (4QFY18); Net Profit Down 36.7% (Quarterly Result Update)

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