VIJAYA BANK Announces Quarterly Results (3QFY19); Net Profit Up 80.2%

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VIJAYA BANK Announces Quarterly Results (3QFY19); Net Profit Up 80.2%
Thu, 24 Jan

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

VIJAYA BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Operating incomeRs m31,35236,34038,4845.9%22.7%
Other incomeRs m3,1562,9742,580-13.2%-18.3%
Total revenuesRs m34,50839,31441,0644.5%19.0%
InterestRs m19,81124,68526,6137.8%34.3%
Gross Profit Rs m11,54211,65511,8711.9%2.9%
Other expensesRs m7,0207,0416,888-2.2%-1.9%
Profit before taxRs m9081,7021,7875.0%96.8%
TaxRs m11230235316.9%214.4%
Profit after taxRs m7961,3991,4342.5%80.2%
Gross profit margin %36.832.130.8
Effective tax rate%12.417.819.8
Net profit margin%2.53.93.7
* 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 22.7% on a year-on-year (YoY) basis. The interest expended was up by 34.3% YoY during the same period.
  • The bank's operating profit increased by 2.9% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 30.8% in 3QFY19 as against 36.8% in 3QFY18.
  • Other income declined by 18.3% YoY during the quarter.
  • Net profit for the quarter increased by 80.2% YoY. Net profit margins during the quarter increased from 2.5% in 3QFY18 to 3.7% in 3QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 5.9% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 7.8% QoQ during the same period.
  • The bank's operating profit declined by 1.9% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 30.8% in 3QFY19 as against 32.1% in 2QFY18.
  • Net profit for the quarter increased by 2.5% QoQ, while net profit margins declined from 3.8% in 2QFY18 to 3.7% in 3QFY19.

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 69.3 to Rs 45.0, registering a Loss of Rs 24.3 or around 35.1%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 30,547.2 (up 0.0%). Over the last one year it has moved down from 31,117.9 to 30,547.2, a gain of 571 points (down 1.8%).

Overall, the S&P BSE SENSEX is up 0.2% over the year.

Current Valuations

At the current price of Rs 45.0, the price to earnings (P/E) ratio of VIJAYA BANK stands at 6.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.4 times.

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For the quarter ended September 2018, VIJAYA BANK has posted a net profit of Rs 1 bn (down 24.5% YoY). Sales on the other hand came in at Rs 36 bn (up 19.0% YoY). Read on for a complete analysis of VIJAYA BANK's quarterly results.

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