AXIS BANK Announces Quarterly Results (1QFY20); Net Profit Up 95.4%

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AXIS BANK Announces Quarterly Results (1QFY20); Net Profit Up 95.4%
Thu, 1 Aug

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

AXIS BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Operating incomeRs m127,770147,980152,5503.1%19.4%
Other incomeRs m29,25035,26338,6889.7%32.3%
Total revenuesRs m157,020183,243191,2374.4%21.8%
InterestRs m76,10290,92494,1133.5%23.7%
Gross Profit Rs m51,66857,05658,4372.4%13.1%
Other expensesRs m37,19842,17538,197-9.4%2.7%
Profit before taxRs m10,34323,03020,782-9.8%100.9%
TaxRs m3,3337,9797,081-11.3%112.5%
Profit after taxRs m7,01115,05113,701-9.0%95.4%
Gross profit margin %40.438.638.3
Effective tax rate%32.234.634.1
Net profit margin%5.510.29.0
* 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 19.4% on a year-on-year (YoY) basis. The interest expended was up by 23.7% YoY during the same period.
  • The bank's operating profit increased by 13.1% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 38.3% in 1QFY20 as against 40.4% in 1QFY19.
  • Other income increased by 32.3% YoY during the quarter.
  • Net profit for the quarter increased by 95.4% YoY. Net profit margins during the quarter increased from 5.5% in 1QFY19 to 9.0% in 1QFY20.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 3.1% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 3.5% QoQ during the same period.
  • The bank's operating profit declined by 2.4% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 38.3% in 1QFY20 as against 38.6% in 4QFY19.
  • Net profit for the quarter declined by 9.0% QoQ, while net profit margins declined from 10.2% in 4QFY19 to 9.0% in 1QFY20.

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

AXIS BANK Share Price Performance

Over the last one year,AXIS BANK share price has moved up from Rs 544.9 to Rs 672.2, registering a Gain of Rs 127.3 or around 23.4%.

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 672.2, the price to earnings (P/E) ratio of AXIS BANK stands at 30.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.4 times.

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