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- RURAL ELECT. Announces Quarterly Results (3QFY19); Net Profit Down 1.7%
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 Change | YoY Change | |
|---|---|---|---|---|---|---|
| Operating income | Rs m | 54,985 | 72,862 | 72,522 | -0.5% | 31.9% |
| Other income | Rs m | 1,043 | 130 | 52 | -59.7% | -95.0% |
| Total revenues | Rs m | 56,027 | 72,992 | 72,575 | -0.6% | 29.5% |
| Interest | Rs m | 34,342 | 37,789 | 40,894 | 8.2% | 19.1% |
| Gross Profit | Rs m | 20,629 | 35,057 | 31,609 | -9.8% | 53.2% |
| Other expenses | Rs m | 2,924 | 9,932 | 13,362 | 34.5% | 357.0% |
| Profit before tax | Rs m | 18,748 | 25,255 | 18,299 | -27.5% | -2.4% |
| Tax | Rs m | 5,784 | 7,611 | 5,554 | -27.0% | -4.0% |
| Profit after tax | Rs m | 12,964 | 17,643 | 12,746 | -27.8% | -1.7% |
| Gross profit margin | % | 37.5 | 48.1 | 43.6 | ||
| Effective tax rate | % | 30.9 | 30.1 | 30.3 | ||
| Net profit margin | % | 23.6 | 24.2 | 17.6 |
Interim results exclude extraordinary / exceptional items
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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