DHANLAXMI BANK Announces Quarterly Results (1QFY19); Net Profit Down 664.5%
Fri, 10 Aug

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

DHANLAXMI BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-17*
3
Mar-18*
3
Jun-18*
QoQ ChangeYoY Change
Operating incomeRs m2,5932,4642,399-2.6%-7.5%
Other incomeRs m280297165-44.6%-41.1%
Total revenuesRs m2,8732,7612,564-7.2%-10.8%
InterestRs m1,7391,6071,588-1.2%-8.7%
Gross Profit Rs m854857811-5.4%-5.0%
Other expensesRs m86752577647.8%-10.6%
Profit before taxRs m80-172-450-664.5%
TaxRs m0000.0%0.0%
Profit after taxRs m80-172-450-664.5%
Gross profit margin %32.934.833.8
Effective tax rate%0.00.00.0
Net profit margin%3.1-7.0-18.8
* 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 fell 7.5% on a year-on-year (YoY) basis. The interest expended was down by 8.7% YoY during the same period.
  • The bank's operating profit declined by 5.0% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 33.8% in 1QFY19 as against 32.9% in 1QFY18.
  • Other income declined by 41.1% YoY during the quarter.
  • Net profit for the quarter declined by 664.5% YoY. Net profit margins during the quarter declined from 3.1% in 1QFY18 to -18.8% in 1QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter fell 2.6% on a quarter-on-quarter (QoQ) basis. The interest expended was down by 1.2% QoQ during the same period.
  • The bank's operating profit declined by 5.4% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 33.8% in 1QFY19 as against 34.8% in 4QFY18.
  • Net profit for the quarter increased by 162.2% QoQ, while net profit margins declined from -7.0% in 4QFY18 to -18.8% in 1QFY19.

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

DHANLAXMI BANK Share Price Performance

Over the last one year, DHANLAXMI BANK share price has moved up from Rs 33.7 to Rs 16.2, registering a Loss of Rs 17.5 or around 52.0%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 31,748.2 (down 0.8%). Over the last one year it has moved up from 27,339.7 to 31,748.2, a gain of 4,409 points (up 16.1%).

Overall, the S&P BSE SENSEX is up 19.1% over the year.

Current Valuations

At the current price of Rs 16.2, the price to book value (P/BV) ratio of DHANLAXMI BANK stands at 0.4 times.