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AXIS BANK Announces Quarterly Results (2QFY19); Net Profit Up 82.6%

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AXIS BANK Announces Quarterly Results (2QFY19); Net Profit Up 82.6%
Mon, 12 Nov

AXIS BANK has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

AXIS BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Operating incomeRs m112,351127,770132,8103.9%18.2%
Other incomeRs m25,85529,25026,784-8.4%3.6%
Total revenuesRs m138,206157,020159,5941.6%15.5%
InterestRs m66,95576,10280,4895.8%20.2%
Gross Profit Rs m45,39651,66852,3211.3%15.3%
Other expensesRs m33,47837,19838,1652.6%14.0%
Profit before taxRs m6,36910,34311,66612.8%83.2%
TaxRs m2,0453,3333,77013.1%84.3%
Profit after taxRs m4,3247,0117,89612.6%82.6%
Gross profit margin %40.440.439.4
Effective tax rate%32.132.232.3
Net profit margin%3.85.55.9
* 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 18.2% on a year-on-year (YoY) basis. The interest expended was up by 20.2% YoY during the same period.
  • The bank's operating profit increased by 15.3% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 39.4% in 2QFY19 as against 40.4% in 2QFY18.
  • Other income increased by 3.6% YoY during the quarter.
  • Net profit for the quarter increased by 82.6% YoY. Net profit margins during the quarter increased from 3.8% in 2QFY18 to 5.9% in 2QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 3.9% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 5.8% QoQ during the same period.
  • The bank's operating profit declined by 1.3% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 39.4% in 2QFY19 as against 40.4% in 1QFY18.
  • Net profit for the quarter increased by 12.6% QoQ, while net profit margins increased from 5.5% in 1QFY18 to 5.9% in 2QFY19.

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 544.5 to Rs 614.1, registering a Gain of Rs 69.6 or around 12.8%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 29,028.7 (down 0.2%). Over the last one year it has moved up from 28,920.9 to 29,028.7, a gain of 108 points (up 0.4%).

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

Current Valuations

At the current price of Rs 614.1, the price to earnings (P/E) ratio of AXIS BANK stands at 33.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.6 times.

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