CANARA BANK Announces Quarterly Results (2QFY20); Net Profit Up 21.8%

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CANARA BANK Announces Quarterly Results (2QFY20); Net Profit Up 21.8%
Thu, 14 Nov

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

CANARA BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Operating incomeRs m111,238122,005123,9211.6%11.4%
Other incomeRs m15,55318,61920,69611.2%33.1%
Total revenuesRs m126,791140,624144,6172.8%14.1%
InterestRs m78,42589,59992,6243.4%18.1%
Gross Profit Rs m32,81332,40631,298-3.4%-4.6%
Other expensesRs m25,09226,62526,547-0.3%5.8%
Profit before taxRs m-5,0785,4095,066-6.3%
TaxRs m-8,0732,1181,417-33.1%
Profit after taxRs m2,9953,2913,64910.9%21.8%
Gross profit margin %29.526.625.3
Effective tax rate%159.039.228.0
Net profit margin%2.72.72.9
* 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 11.4% on a year-on-year (YoY) basis. The interest expended was up by 18.1% YoY during the same period.
  • The bank's operating profit declined by 4.6% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 25.3% in 2QFY20 as against 29.5% in 2QFY19.
  • Other income increased by 33.1% YoY during the quarter.
  • Net profit for the quarter increased by 21.8% YoY. Net profit margins during the quarter increased from 2.7% in 2QFY19 to 2.9% in 2QFY20.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 1.6% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 3.4% QoQ during the same period.
  • The bank's operating profit declined by 3.4% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 25.3% in 2QFY20 as against 26.6% in 1QFY19.
  • Net profit for the quarter increased by 10.9% QoQ, while net profit margins increased from 2.7% in 1QFY19 to 2.9% in 2QFY20.

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

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CANARA BANK Share Price Performance

Over the last one year,CANARA BANK share price has moved down from Rs 252.7 to Rs 200.4, registering a Loss of Rs 52.3 or around 20.7%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 34,649.3 (up 0.5%). Over the last one year it has moved up from 29,298.7 to 34,649.3, a gain of 5,351 points (up 18.3%).

Overall, the S&P BSE SENSEX is up 14.4% over the year.

Current Valuations

At the current price of Rs 200.4, the price to earnings (P/E) ratio of CANARA BANK stands at 20.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.3 times.

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CANARA BANK Announces Quarterly Results (3QFY20); Net Profit Up 3.8% (Quarterly Result Update)

Jan 24, 2020 | Updated on Jan 24, 2020

For the quarter ended December 2019, CANARA BANK has posted a net profit of Rs 3 bn (up 3.8% YoY). Sales on the other hand came in at Rs 123 bn (up 0.9% YoY). Read on for a complete analysis of CANARA BANK's quarterly results.

CANARA BANK Announces Quarterly Results (1QFY20); Net Profit Up 16.9% (Quarterly Result Update)

Jul 25, 2019 | Updated on Jul 25, 2019

For the quarter ended June 2019, CANARA BANK has posted a net profit of Rs 3 bn (up 16.9% YoY). Sales on the other hand came in at Rs 122 bn (up 7.4% YoY). Read on for a complete analysis of CANARA BANK's quarterly results.

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