SYNDICATE BANK Announces Quarterly Results (2QFY20); Net Profit Up 116.3%

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

SYNDICATE BANK Announces Quarterly Results (2QFY20); Net Profit Up 116.3%
Tue, 5 Nov

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

SYNDICATE BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Operating incomeRs m53,99355,44854,073-2.5%0.1%
Other incomeRs m4,8965,3597,45939.2%52.4%
Total revenuesRs m58,88960,80761,5311.2%4.5%
InterestRs m38,27037,53036,680-2.3%-4.2%
Gross Profit Rs m15,72317,91817,393-2.9%10.6%
Other expensesRs m14,91815,18015,2870.7%2.5%
Profit before taxRs m-16,472-11,5943,174
TaxRs m-1,047-1,789664
Profit after taxRs m-15,425-9,8052,511
Gross profit margin %29.132.332.2
Effective tax rate%6.415.420.9
Net profit margin%-28.6-17.74.6
* 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 0.1% on a year-on-year (YoY) basis. The interest expended was down by 4.2% YoY during the same period.
  • The bank's operating profit increased by 10.6% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 32.2% in 2QFY20 as against 29.1% in 2QFY19.
  • Other income increased by 52.4% YoY during the quarter.
  • Net profit for the quarter increased by 116.3% YoY. Net profit margins during the quarter increased from -28.6% in 2QFY19 to 4.6% in 2QFY20.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter fell 2.5% on a quarter-on-quarter (QoQ) basis. The interest expended was down by 2.3% QoQ during the same period.
  • The bank's operating profit declined by 2.9% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 32.2% in 2QFY20 as against 32.3% in 1QFY19.
  • Net profit for the quarter increased by 125.6% QoQ, while net profit margins increased from -17.7% in 1QFY19 to 4.6% in 2QFY20.

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

Watch Now: Replay of Our Explosive Profits Summit

SYNDICATE BANK Share Price Performance

Over the last one year,SYNDICATE BANK share price has moved down from Rs 34.6 to Rs 29.8, registering a Loss of Rs 4.8 or around 13.9%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 34,321.4 (up 0.3%). Over the last one year it has moved up from 29,052.6 to 34,321.4, a gain of 5,269 points (up 18.1%).

Overall, the S&P BSE SENSEX is up 15.4% over the year.

Current Valuations

At the current price of Rs 29.8, the price to book value (P/BV) ratio of SYNDICATE BANK stands at 0.1 times.

Equitymaster requests your view! Post a comment on "SYNDICATE BANK Announces Quarterly Results (2QFY20); Net Profit Up 116.3%". Click here!

  

Related Views on News

How the YES Bank Collapse Unfolded - 10 Points (Sector Info)

Mar 9, 2020

A timeline of how YES Bank went from a stock market darling to a pariah.

Today's Stock Market Crash: 10 Points (Sector Info)

Mar 6, 2020

Top factors that dragged the markets lower today.

SYNDICATE BANK Announces Quarterly Results (1QFY20); Net Profit Up 23.5% (Quarterly Result Update)

Jul 25, 2019 | Updated on Jul 25, 2019

For the quarter ended June 2019, SYNDICATE BANK has posted a net profit of Rs 10 bn (up 23.5% YoY). Sales on the other hand came in at Rs 55 bn (up 5.5% YoY). Read on for a complete analysis of SYNDICATE BANK's quarterly results.

SYNDICATE BANK Announces Quarterly Results (4QFY19); Net Profit Up 105.8% (Quarterly Result Update)

May 14, 2019 | Updated on May 14, 2019

For the quarter ended March 2019, SYNDICATE BANK has posted a net profit of Rs 1 bn (up 105.8% YoY). Sales on the other hand came in at Rs 56 bn (up 4.7% YoY). Read on for a complete analysis of SYNDICATE BANK's quarterly results.

More Views on News

Most Popular

Not Infosys or Wipro. India's Next Wealth Creators Could Be Drone Stocks(Profit Hunter)

Nov 25, 2020

India's drones directorate signals the next big defence tech multibaggers.

It's Time to Book Profits(Fast Profits Daily)

Nov 27, 2020

In my first video on Equitymaster, I want to introduce you my proprietary greed and fear index. It's telling us to book some profits in the market.

How the New Margins Will Impact You(Fast Profits Daily)

Nov 25, 2020

The new rules on margins will come into effect from 1st December. Are you ready?

Is this Sector the Best Contrarian Bet Right Now?(Profit Hunter)

Nov 23, 2020

The risk reward ratio in this beaten down sector may have finally turned for the better.

The Price of Dying, the Cost of Living(The Honest Truth)

Nov 20, 2020

Ajit Dayal presents a cost benefit analysis of the various types of response to covid around the world.

More

Covid-19 Proof
Multibagger Stocks

Covid19 Proof Multibaggers
Get this special report, authored by Equitymaster's top analysts now!
We will never sell or rent your email id.
Please read our Terms

SYNDICATE BANK SHARE PRICE


Mar 19, 2020 (Close)

TRACK SYNDICATE BANK

  • Track your investment in SYNDICATE BANK with Equitymaster's Portfolio Tracker. Set live price alerts, get research alerts and more. Get access now...
  • Add To MyStocks

MORE ON SYNDICATE BANK

SYNDICATE BANK 8-QTR ANALYSIS

COMPARE SYNDICATE BANK WITH

MARKET STATS