ORIENTAL BANK Announces Quarterly Results (2QFY20); Net Profit Up 23.7%
Fri, 25 Oct

ORIENTAL BANK has announced its results for the quarter ended September 2019. Here is a detailed performance review of the same:

ORIENTAL BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Operating incomeRs m42,89649,19848,776-0.9%13.7%
Other incomeRs m6,7777,1528,24715.3%21.7%
Total revenuesRs m49,67356,35057,0231.2%14.8%
InterestRs m30,14735,48234,221-3.6%13.5%
Gross Profit Rs m12,74813,71614,5566.1%14.2%
Other expensesRs m9,80110,61711,0414.0%12.7%
Profit before taxRs m-1,0131,8272,11916.0%
TaxRs m-2,03070086022.9%
Profit after taxRs m1,0171,1271,25911.7%23.7%
Gross profit margin %29.727.929.8
Effective tax rate%200.538.340.6
Net profit margin%2.42.32.6
* 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 13.7% on a year-on-year (YoY) basis. The interest expended was up by 13.5% YoY during the same period.
  • The bank's operating profit increased by 14.2% YoY during the quarter. Consequently, operating profit margins remained same and stood at 29.8% in 2QFY20.
  • Other income increased by 21.7% YoY during the quarter.
  • Net profit for the quarter increased by 23.7% YoY. Net profit margins during the quarter increased from 2.4% in 2QFY19 to 2.6% in 2QFY20.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter fell 0.9% on a quarter-on-quarter (QoQ) basis. The interest expended was down by 3.6% QoQ during the same period.
  • The bank's operating profit increased by 6.1% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 29.8% in 2QFY20 as against 27.9% in 1QFY19.
  • Net profit for the quarter increased by 11.7% QoQ, while net profit margins increased from 2.3% in 1QFY19 to 2.6% in 2QFY20.

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

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ORIENTAL BANK Share Price Performance

Over the last one year,ORIENTAL BANK share price has moved down from Rs 66.4 to Rs 50.2, registering a Loss of Rs 16.2 or around 24.3%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 32,960.1 (up 0.1%). Over the last one year it has moved up from 27,706.1 to 32,960.1, a gain of 5,254 points (up 19.0%).

Overall, the S&P BSE SENSEX is up 14.6% over the year.

Current Valuations

At the current price of Rs 50.2, the price to earnings (P/E) ratio of ORIENTAL BANK stands at 2.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.1 times.