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CANARA BANK Announces Quarterly Results (4QFY19); Net Profit Up 88.7%

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CANARA BANK Announces Quarterly Results (4QFY19); Net Profit Up 88.7%
Mon, 13 May

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

CANARA BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Operating incomeRs m102,234121,886121,385-0.4%18.7%
Other incomeRs m13,31713,24818,62040.5%39.8%
Total revenuesRs m115,551135,134140,0043.6%21.2%
InterestRs m72,35883,74886,3833.1%19.4%
Gross Profit Rs m29,87638,13835,002-8.2%17.2%
Other expensesRs m25,54627,81423,886-14.1%-6.5%
Profit before taxRs m-73,1043,799-25,500-771.2%
TaxRs m-24,506624-19,985-3303.8%
Profit after taxRs m-48,5983,175-5,515-273.7%
Gross profit margin %29.231.328.8
Effective tax rate%33.516.478.4
Net profit margin%-47.52.6-4.5
* 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 grew 18.7% on a year-on-year (YoY) basis. The interest expended was up by 19.4% YoY during the same period.
  • The bank's operating profit increased by 17.2% YoY during the quarter. Consequently, operating profit margins remained same and stood at 28.8% in 4QFY19.
  • Other income increased by 39.8% YoY during the quarter.
  • Net profit for the quarter increased by 88.7% YoY. Net profit margins during the quarter increased from -47.5% in 4QFY18 to -4.5% in 4QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter fell 0.4% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 3.1% QoQ during the same period.
  • The bank's operating profit declined by 8.2% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 28.8% in 4QFY19 as against 31.3% in 3QFY18.
  • Net profit for the quarter declined by 273.7% QoQ, while net profit margins declined from 2.6% in 3QFY18 to -4.5% in 4QFY19.

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

CANARA BANK Share Price Performance

Over the last one year, CANARA BANK share price has moved up from Rs 246.4 to Rs 254.0, registering a Gain of Rs 7.6 or around 3.1%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 32,431.3 (up 0.1%). Over the last one year it has moved up from 29,688.9 to 32,431.3, a gain of 2,742 points (up 9.2%).

Overall, the S&P BSE SENSEX is up 6.6% over the year.

Current Valuations

At the current price of Rs 254.0, the price to earnings (P/E) ratio of CANARA BANK stands at 34.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.3 times.

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