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

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SYNDICATE BANK Announces Quarterly Results (4QFY19); Net Profit Up 105.8%
Tue, 14 May

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

SYNDICATE BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Operating incomeRs m53,57254,58656,1032.8%4.7%
Other incomeRs m6,8886,1907,35018.7%6.7%
Total revenuesRs m60,46060,77663,4524.4%4.9%
InterestRs m36,78538,40236,580-4.7%-0.6%
Gross Profit Rs m16,78816,18519,52220.6%16.3%
Other expensesRs m14,33416,03916,3021.6%13.7%
Profit before taxRs m-30,0321,3641,75928.9%
TaxRs m-8,08028447868.3%
Profit after taxRs m-21,9511,0801,28018.5%
Gross profit margin %31.329.634.8
Effective tax rate%26.920.827.2
Net profit margin%-41.02.02.3
* 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 4.7% on a year-on-year (YoY) basis. The interest expended was down by 0.6% YoY during the same period.
  • The bank's operating profit increased by 16.3% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 34.8% in 4QFY19 as against 31.3% in 4QFY18.
  • Other income increased by 6.7% YoY during the quarter.
  • Net profit for the quarter increased by 105.8% YoY. Net profit margins during the quarter increased from -41.0% in 4QFY18 to 2.3% in 4QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 2.8% on a quarter-on-quarter (QoQ) basis. The interest expended was down by 4.7% QoQ during the same period.
  • The bank's operating profit increased by 20.6% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 34.8% in 4QFY19 as against 29.6% in 3QFY18.
  • Net profit for the quarter increased by 18.5% QoQ, while net profit margins increased from 2.0% in 3QFY18 to 2.3% in 4QFY19.

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

SYNDICATE BANK Share Price Performance

Over the last one year, SYNDICATE BANK share price has moved up from Rs 51.5 to Rs 34.2, registering a Loss of Rs 17.3 or around 33.6%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 32,066.0 (up 0.2%). Over the last one year it has moved up from 29,739.1 to 32,066.0, a gain of 2,327 points (up 7.8%).

Overall, the S&P BSE SENSEX is up 4.2% over the year.

Current Valuations

At the current price of Rs 34.2, the price to book value (P/BV) ratio of SYNDICATE BANK stands at 0.1 times.

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