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VIJAYA BANK Announces Quarterly Results (2QFY19); Net Profit Down 24.5%

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VIJAYA BANK Announces Quarterly Results (2QFY19); Net Profit Down 24.5%
Fri, 9 Nov

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

VIJAYA BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Operating incomeRs m30,53935,10536,3403.5%19.0%
Other incomeRs m4,4744,2532,974-30.1%-33.5%
Total revenuesRs m35,01339,35839,314-0.1%12.3%
InterestRs m20,45523,03824,6857.2%20.7%
Gross Profit Rs m10,08412,06711,655-3.4%15.6%
Other expensesRs m7,2197,7987,041-9.7%-2.5%
Profit before taxRs m2,7581,9281,702-11.7%-38.3%
TaxRs m904485302-37.6%-66.5%
Profit after taxRs m1,8551,4431,399-3.0%-24.5%
Gross profit margin %33.034.432.1
Effective tax rate%32.825.117.8
Net profit margin%6.14.13.9
* 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 19.0% on a year-on-year (YoY) basis. The interest expended was up by 20.7% YoY during the same period.
  • The bank's operating profit increased by 15.6% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 32.1% in 2QFY19 as against 33.0% in 2QFY18.
  • Other income declined by 33.5% YoY during the quarter.
  • Net profit for the quarter declined by 24.5% YoY. Net profit margins during the quarter declined from 6.1% in 2QFY18 to 3.9% in 2QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 3.5% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 7.2% QoQ during the same period.
  • The bank's operating profit declined by 3.4% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 32.1% in 2QFY19 as against 34.4% in 1QFY18.
  • Net profit for the quarter declined by 3.0% QoQ, while net profit margins declined from 4.1% in 1QFY18 to 3.9% in 2QFY19.

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

VIJAYA BANK Share Price Performance

Over the last one year, VIJAYA BANK share price has moved up from Rs 70.0 to Rs 43.0, registering a Loss of Rs 27.1 or around 38.6%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 29,068.1 (up 0.1%). Over the last one year it has moved up from 28,634.8 to 29,068.1, a gain of 433 points (up 1.5%).

Overall, the S&P BSE SENSEX is up 5.3% over the year.

Current Valuations

At the current price of Rs 43.0, the price to earnings (P/E) ratio of VIJAYA BANK stands at 6.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.3 times.

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