AXIS BANK Announces Quarterly Results (2QFY20); Net Profit Down 114.2%

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AXIS BANK Announces Quarterly Results (2QFY20); Net Profit Down 114.2%
Thu, 24 Oct

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

AXIS BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Operating incomeRs m132,810152,550154,3781.2%16.2%
Other incomeRs m26,78438,68838,9580.7%45.5%
Total revenuesRs m159,594191,237193,3361.1%21.1%
InterestRs m80,48994,11393,360-0.8%16.0%
Gross Profit Rs m52,32158,43761,0184.4%16.6%
Other expensesRs m38,16538,19740,4605.9%6.0%
Profit before taxRs m11,66620,78224,33217.1%108.6%
TaxRs m3,7707,08125,453259.5%575.1%
Profit after taxRs m7,89613,701-1,121-108.2%-114.2%
Gross profit margin %39.438.339.5
Effective tax rate%32.334.1104.6
Net profit margin%5.99.0-0.7
* 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 16.2% on a year-on-year (YoY) basis. The interest expended was up by 16.0% YoY during the same period.
  • The bank's operating profit increased by 16.6% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 39.5% in 2QFY20 as against 39.4% in 2QFY19.
  • Other income increased by 45.5% YoY during the quarter.
  • Net profit for the quarter declined by 114.2% YoY. Net profit margins during the quarter declined from 5.9% in 2QFY19 to -0.7% in 2QFY20.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 1.2% on a quarter-on-quarter (QoQ) basis. The interest expended was down by 0.8% QoQ during the same period.
  • The bank's operating profit increased by 4.4% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 39.5% in 2QFY20 as against 38.3% in 1QFY19.
  • Net profit for the quarter declined by 108.2% QoQ, while net profit margins declined from 9.0% in 1QFY19 to -0.7% in 2QFY20.

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

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AXIS BANK Share Price Performance

Over the last one year,AXIS BANK share price has moved up from Rs 563.4 to Rs 718.3, registering a Gain of Rs 154.9 or around 27.5%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 33,469.2 (up 0.5%). Over the last one year it has moved up from 28,003.5 to 33,469.2, a gain of 5,466 points (up 19.5%).

Overall, the S&P BSE SENSEX is up 15.8% over the year.

Current Valuations

At the current price of Rs 718.3, the price to earnings (P/E) ratio of AXIS BANK stands at 38.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.5 times.

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