UNITED BANK OF INDIA Announces Quarterly Results (3QFY19); Net Profit Down 78.7%

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UNITED BANK OF INDIA Announces Quarterly Results (3QFY19); Net Profit Down 78.7%
Wed, 13 Feb

UNITED BANK OF INDIA has announced its results for the quarter ended December 2018. Here is a detailed performance review of the same:

UNITED BANK OF INDIA Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Operating incomeRs m20,04621,23420,682-2.6%3.2%
Other incomeRs m4,7844,7717,78163.1%62.7%
Total revenuesRs m24,83026,00528,4629.5%14.6%
InterestRs m16,56716,80816,8810.4%1.9%
Gross Profit Rs m3,4794,4263,800-14.1%9.2%
Other expensesRs m6,4487,1337,7558.7%20.3%
Profit before taxRs m-8,928-12,749-15,846
TaxRs m-2,553-3,917-4,453
Profit after taxRs m-6,375-8,832-11,393
Gross profit margin %17.420.818.4
Effective tax rate%28.630.728.1
Net profit margin%-31.8-41.6-55.1
* 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 3.2% on a year-on-year (YoY) basis. The interest expended was up by 1.9% YoY during the same period.
  • The bank's operating profit increased by 9.2% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 18.4% in 3QFY19 as against 17.4% in 3QFY18.
  • Other income increased by 62.7% YoY during the quarter.
  • Net profit for the quarter declined by 78.7% YoY. Net profit margins during the quarter declined from -31.8% in 3QFY18 to -55.1% in 3QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter fell 2.6% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 0.4% QoQ during the same period.
  • The bank's operating profit declined by 14.1% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 18.4% in 3QFY19 as against 20.8% in 2QFY18.
  • Net profit for the quarter declined by 29.0% QoQ, while net profit margins declined from -41.6% in 2QFY18 to -55.1% in 3QFY19.

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 up from Rs 15.3 to Rs 10.2, registering a Loss of Rs 5.1 or around 33.2%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 30,152.4 (down 0.0%). Over the last one year it has moved up from 29,080.0 to 30,152.4, a gain of 1,072 points (up 3.7%).

Overall, the S&P BSE SENSEX is up 5.7% over the year.

Current Valuations

At the current price of Rs 10.2, the price to book value (P/BV) ratio of UNITED BANK OF INDIA stands at 0.1 times.

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Dec 6, 2019 (Close)

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