UNITED BANK OF INDIA Announces Quarterly Results (4QFY19); Net Profit Up 136.5%

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UNITED BANK OF INDIA Announces Quarterly Results (4QFY19); Net Profit Up 136.5%
Thu, 16 May

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

UNITED BANK OF INDIA Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Operating incomeRs m21,88020,68222,1337.0%1.2%
Other incomeRs m4,4777,7817,348-5.6%64.1%
Total revenuesRs m26,35728,46229,4813.6%11.9%
InterestRs m16,74516,88116,066-4.8%-4.1%
Gross Profit Rs m5,1353,8006,06759.6%18.1%
Other expensesRs m8,2837,7558,0163.4%-3.2%
Profit before taxRs m-12,521-15,846-11,479
TaxRs m-9,914-4,453-12,431
Profit after taxRs m-2,606-11,393952
Gross profit margin %23.518.427.4
Effective tax rate%79.228.1108.3
Net profit margin%-11.9-55.14.3
* 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 1.2% on a year-on-year (YoY) basis. The interest expended was down by 4.1% YoY during the same period.
  • The bank's operating profit increased by 18.1% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 27.4% in 4QFY19 as against 23.5% in 4QFY18.
  • Other income increased by 64.1% YoY during the quarter.
  • Net profit for the quarter increased by 136.5% YoY. Net profit margins during the quarter increased from -11.9% in 4QFY18 to 4.3% in 4QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 7.0% on a quarter-on-quarter (QoQ) basis. The interest expended was down by 4.8% QoQ during the same period.
  • The bank's operating profit increased by 59.6% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 27.4% in 4QFY19 as against 18.4% in 3QFY18.
  • Net profit for the quarter increased by 108.4% QoQ, while net profit margins increased from -55.1% in 3QFY18 to 4.3% in 4QFY19.

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 11.0 to Rs 10.6, registering a Loss of Rs 0.4 or around 3.4%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 31,924.7 (down 0.1%). Over the last one year it has moved up from 29,357.5 to 31,924.7, a gain of 2,567 points (up 8.7%).

Overall, the S&P BSE SENSEX is up 4.5% over the year.

Current Valuations

At the current price of Rs 10.6, the price to book value (P/BV) ratio of UNITED BANK OF INDIA stands at 0.1 times.

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