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PUNJAB & SIND BANK Announces Quarterly Results (1QFY20); Net Profit Up 92.4%

PUNJAB & SIND BANK Announces Quarterly Results (1QFY20); Net Profit Up 92.4%
Tue, 13 Aug

PUNJAB & SIND BANK has announced its results for the quarter ended June 2019. Here is a detailed performance review of the same:

PUNJAB & SIND BANK Quarterly Financials

No. of Mths Qtr. Ending		3 Jun-18*	3 Mar-19*	3 Jun-19*	QoQ Change	YoY Change
Operating income	Rs m	21,848	20,182	20,709	2.6%	-5.2%
Other income	Rs m	1,513	2,862	1,670	-41.7%	10.4%
Total revenues	Rs m	23,360	23,044	22,379	-2.9%	-4.2%
Interest	Rs m	14,741	15,885	15,034	-5.4%	2.0%
Gross Profit	Rs m	7,107	4,297	5,676	32.1%	-20.1%
Other expenses	Rs m	4,538	3,117	4,650	49.2%	2.5%
Profit before tax	Rs m	-6,172	-296	-650
Tax	Rs m	-2,192	289	-347	-219.9%
Profit after tax	Rs m	-3,980	-586	-303
Gross profit margin	%	32.5	21.3	27.4
Effective tax rate	%	35.5	-97.7	53.4
Net profit margin	%	-18.2	-2.9	-1.5

* 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 fell 5.2% on a year-on-year (YoY) basis. The interest expended was up by 2.0% YoY during the same period.
The bank's operating profit declined by 20.1% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 27.4% in 1QFY20 as against 32.5% in 1QFY19.
Other income increased by 10.4% YoY during the quarter.
Net profit for the quarter increased by 92.4% YoY. Net profit margins during the quarter increased from -18.2% in 1QFY19 to -1.5% in 1QFY20.

Quarter-on-Quarter Performance:

The bank's operating income (interest earned) during the quarter grew 2.6% on a quarter-on-quarter (QoQ) basis. The interest expended was down by 5.4% QoQ during the same period.
The bank's operating profit increased by 32.1% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 27.4% in 1QFY20 as against 21.3% in 4QFY19.
Net profit for the quarter increased by 48.3% QoQ, while net profit margins increased from -2.9% in 4QFY19 to -1.5% in 1QFY20.

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

PUNJAB & SIND BANK Share Price Performance

Over the last one year,PUNJAB & SIND BANK share price has moved down from Rs 29.9 to Rs 23.6, registering a Loss of Rs 6.3 or around 21.1%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 31,825.3 (down 0.9%). Over the last one year it has moved up from 31,368.3 to 31,825.3, a gain of 457 points (up 1.5%).

Overall, the S&P BSE SENSEX is down 1.3% over the year.

Current Valuations