UNITED BANK OF INDIA Announces Quarterly Results (1QFY20); Net Profit Up 127.0%

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UNITED BANK OF INDIA Announces Quarterly Results (1QFY20); Net Profit Up 127.0%
Thu, 1 Aug

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

UNITED BANK OF INDIA Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Operating incomeRs m21,55022,13323,7447.3%10.2%
Other incomeRs m3,9477,3486,287-14.4%59.3%
Total revenuesRs m25,49729,48130,0311.9%17.8%
InterestRs m16,09716,06616,4692.5%2.3%
Gross Profit Rs m5,4536,0677,27519.9%33.4%
Other expensesRs m6,5728,0166,737-16.0%2.5%
Profit before taxRs m-5,735-11,4791,109
TaxRs m-1,849-12,43159
Profit after taxRs m-3,8879521,05010.3%
Gross profit margin %25.327.430.6
Effective tax rate%32.2108.35.3
Net profit margin%-18.04.34.4
* 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 10.2% on a year-on-year (YoY) basis. The interest expended was up by 2.3% YoY during the same period.
  • The bank's operating profit increased by 33.4% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 30.6% in 1QFY20 as against 25.3% in 1QFY19.
  • Other income increased by 59.3% YoY during the quarter.
  • Net profit for the quarter increased by 127.0% YoY. Net profit margins during the quarter increased from -18.0% in 1QFY19 to 4.4% in 1QFY20.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 7.3% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 2.5% QoQ during the same period.
  • The bank's operating profit increased by 19.9% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 30.6% in 1QFY20 as against 27.4% in 4QFY19.
  • Net profit for the quarter increased by 10.3% QoQ, while net profit margins increased from 4.3% in 4QFY19 to 4.4% in 1QFY20.

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

UNITED BANK OF INDIA Share Price Performance

Over the last one year,UNITED BANK OF INDIA share price has moved down from Rs 11.7 to Rs 9.8, registering a Loss of Rs 1.9 or around 16.6%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 32,533.3 (down 0.5%). Over the last one year it has moved up from 30,834.9 to 32,533.3, a gain of 1,698 points (up 5.5%).

Overall, the S&P BSE SENSEX is down 1.0% over the year.

Current Valuations

At the current price of Rs 9.8, the price to book value (P/BV) ratio of UNITED BANK OF INDIA stands at 0.1 times.

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