AXIS BANK Announces Quarterly Results (4QFY20); Net Profit Down 192.2%

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AXIS BANK Announces Quarterly Results (4QFY20); Net Profit Down 192.2%
Thu, 30 Apr

AXIS BANK has announced its results for the quarter ended March 2020. Here is a detailed performance review of the same:

AXIS BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-19*
3
Dec-19*
3
Mar-20*
QoQ ChangeYoY Change
Operating incomeRs m147,980157,083162,3413.3%9.7%
Other incomeRs m35,26337,86639,8555.3%13.0%
Total revenuesRs m183,243194,949202,1963.7%10.3%
InterestRs m90,92492,55394,2641.8%3.7%
Gross Profit Rs m57,05664,53068,0775.5%19.3%
Other expensesRs m42,17544,96949,4219.9%17.2%
Profit before taxRs m23,03022,718-18,789-182.7%-181.6%
TaxRs m7,9795,148-4,911-195.4%-161.6%
Profit after taxRs m15,05117,570-13,878-179.0%-192.2%
Gross profit margin %38.641.141.9
Effective tax rate%34.622.726.1
Net profit margin%10.211.2-8.5
* 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 9.7% on a year-on-year (YoY) basis. The interest expended was up by 3.7% YoY during the same period.
  • The bank's operating profit increased by 19.3% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 41.9% in 4QFY20 as against 38.6% in 4QFY19.
  • Other income increased by 13.0% YoY during the quarter.
  • Net profit for the quarter declined by 192.2% YoY. Net profit margins during the quarter declined from 10.2% in 4QFY19 to -8.5% in 4QFY20.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 3.3% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 1.8% QoQ during the same period.
  • The bank's operating profit increased by 5.5% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 41.9% in 4QFY20 as against 41.1% in 3QFY19.
  • Net profit for the quarter declined by 179.0% QoQ, while net profit margins declined from 11.2% in 3QFY19 to -8.5% in 4QFY20.

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

Revealed: Top 3 Stocks for 2020 and Beyond

AXIS BANK Share Price Performance

Over the last one year,AXIS BANK share price has moved down from Rs 766.9 to Rs 456.3, registering a Loss of Rs 310.7 or around 40.5%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 25,043.4 (up 3.4%). Over the last one year it has moved down from 33,328.5 to 25,043.4, a loss of 8,285 points (down 24.9%).

Overall, the S&P BSE SENSEX is down 13.9% over the year.

Current Valuations

At the current price of Rs 456.3, the price to earnings (P/E) ratio of AXIS BANK stands at 67.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.6 times.

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