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Default Using Range operator (:) In If condition

I have an excel sheet, which provided by client, In that one cell contains
formula as follows:
=IF((P42:Q42)=(P43:Q43),"In Balance","Out of Balance")

As per the above formula, My understanding is, P42 should be equal to P43
and Q42 should be equal to Q43, then I will get "In Balance" as output. When
I tried to changes the values in the cells, it is not giving "Out of Balance"
and always showing "In balance" as output. Could you please suggest me on
this.
 
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