SOUTH IND.BANK Announces Quarterly Results (1QFY20); Net Profit Up 218.0%

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Markets will remain closed on 21st October 2019, due to Assembly Elections in Maharashtra.

SOUTH IND.BANK Announces Quarterly Results (1QFY20); Net Profit Up 218.0%
Mon, 29 Jul

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

SOUTH IND.BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Operating incomeRs m16,53917,90918,9495.8%14.6%
Other incomeRs m1,4592,3571,819-22.8%24.7%
Total revenuesRs m17,99820,26620,7682.5%15.4%
InterestRs m11,59712,91613,5925.2%17.2%
Gross Profit Rs m4,9434,9945,3577.3%8.4%
Other expensesRs m3,7054,0753,999-1.8%7.9%
Profit before taxRs m3811,0841,1263.9%195.5%
TaxRs m1513793943.9%161.2%
Profit after taxRs m2307057333.9%218.0%
Gross profit margin %29.927.928.3
Effective tax rate%39.535.034.9
Net profit margin%1.43.93.9
* 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 14.6% on a year-on-year (YoY) basis. The interest expended was up by 17.2% YoY during the same period.
  • The bank's operating profit increased by 8.4% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 28.3% in 1QFY20 as against 29.9% in 1QFY19.
  • Other income increased by 24.7% YoY during the quarter.
  • Net profit for the quarter increased by 218.0% YoY. Net profit margins during the quarter increased from 1.4% in 1QFY19 to 3.9% in 1QFY20.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 5.8% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 5.2% QoQ during the same period.
  • The bank's operating profit increased by 7.3% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 28.3% in 1QFY20 as against 27.9% in 4QFY19.
  • Net profit for the quarter increased by 3.9% QoQ, while net profit margins declined from 3.9% in 4QFY19 to 3.9% in 1QFY20.

To see how SOUTH IND.BANK has performed over the last eight quarters,please visit here.

SOUTH IND.BANK Share Price Performance

Over the last one year,SOUTH IND.BANK share price has moved down from Rs 18.1 to Rs 12.8, registering a Loss of Rs 5.3 or around 29.3%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 33,095.9 (down 0.1%). Over the last one year it has moved up from 30,743.1 to 33,095.9, a gain of 2,353 points (up 7.7%).

Overall, the S&P BSE SENSEX is up 1.7% over the year.

Current Valuations

At the current price of Rs 12.8, the price to earnings (P/E) ratio of SOUTH IND.BANK stands at 5.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.3 times.

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