AXIS BANK Announces Quarterly Results (3QFY19); Net Profit Up 131.4%

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AXIS BANK Announces Quarterly Results (3QFY19); Net Profit Up 131.4%
Thu, 31 Jan

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

AXIS BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Operating incomeRs m117,216132,810141,2976.4%20.5%
Other incomeRs m25,93126,78440,00749.4%54.3%
Total revenuesRs m143,146159,594181,30413.6%26.7%
InterestRs m69,90080,48985,2615.9%22.0%
Gross Profit Rs m47,31552,32156,0377.1%18.4%
Other expensesRs m34,70838,16540,7976.9%17.5%
Profit before taxRs m10,42811,66624,701111.7%136.9%
TaxRs m3,1633,7707,893109.4%149.5%
Profit after taxRs m7,2647,89616,809112.9%131.4%
Gross profit margin %40.439.439.7
Effective tax rate%30.332.332.0
Net profit margin%6.25.911.9
* 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 20.5% on a year-on-year (YoY) basis. The interest expended was up by 22.0% YoY during the same period.
  • The bank's operating profit increased by 18.4% YoY during the quarter. Consequently, operating profit margins remained same and stood at 39.7% in 3QFY19.
  • Other income increased by 54.3% YoY during the quarter.
  • Net profit for the quarter increased by 131.4% YoY. Net profit margins during the quarter increased from 6.2% in 3QFY18 to 11.9% in 3QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 6.4% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 5.9% QoQ during the same period.
  • The bank's operating profit increased by 7.1% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 39.7% in 3QFY19 as against 39.4% in 2QFY18.
  • Net profit for the quarter increased by 112.9% QoQ, while net profit margins increased from 5.9% in 2QFY18 to 11.9% in 3QFY19.

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 593.4 to Rs 709.5, registering a Gain of Rs 116.1 or around 19.6%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 30,591.1 (up 1.2%). Over the last one year it has moved down from 30,986.1 to 30,591.1, a gain of 395 points (down 1.3%).

Overall, the S&P BSE SENSEX is up 0.4% over the year.

Current Valuations

At the current price of Rs 709.5, the price to earnings (P/E) ratio of AXIS BANK stands at 172.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.0 times.

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