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VIJAYA BANK Announces Quarterly Results (1QFY19); Net Profit Down 43.3%

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VIJAYA BANK Announces Quarterly Results (1QFY19); Net Profit Down 43.3%
Thu, 26 Jul

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

VIJAYA BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-17*
3
Mar-18*
3
Jun-18*
QoQ ChangeYoY Change
Operating incomeRs m30,05033,95735,1053.4%16.8%
Other incomeRs m5,0513,3254,25327.9%-15.8%
Total revenuesRs m35,10137,28239,3585.6%12.1%
InterestRs m20,61221,99223,0384.8%11.8%
Gross Profit Rs m9,43811,96512,0670.9%27.9%
Other expensesRs m6,9646,8557,79813.8%12.0%
Profit before taxRs m3,2942,8721,928-32.9%-41.5%
TaxRs m747799485-39.3%-35.1%
Profit after taxRs m2,5472,0731,443-30.4%-43.3%
Gross profit margin %31.435.234.4
Effective tax rate%22.727.825.1
Net profit margin%8.56.14.1
* 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 16.8% on a year-on-year (YoY) basis. The interest expended was up by 11.8% YoY during the same period.
  • The bank's operating profit increased by 27.9% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 34.4% in 1QFY19 as against 31.4% in 1QFY18.
  • Other income declined by 15.8% YoY during the quarter.
  • Net profit for the quarter declined by 43.3% YoY. Net profit margins during the quarter declined from 8.5% in 1QFY18 to 4.1% in 1QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 3.4% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 4.8% QoQ during the same period.
  • The bank's operating profit declined by 0.9% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 34.4% in 1QFY19 as against 35.2% in 4QFY18.
  • Net profit for the quarter declined by 30.4% QoQ, while net profit margins declined from 6.1% in 4QFY18 to 4.1% in 1QFY19.

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 70.9 to Rs 54.7, registering a Loss of Rs 16.2 or around 22.9%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 30,322.2 (up 1.1%). Over the last one year it has moved up from 27,961.9 to 30,322.2, a gain of 2,360 points (up 8.4%).

Overall, the S&P BSE SENSEX is up 0.4% over the year.

Current Valuations

At the current price of Rs 54.7, the price to earnings (P/E) ratio of VIJAYA BANK stands at 7.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.8 times.

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