CORPORATION BANK Announces Quarterly Results (2QFY20); Net Profit Up 26.0%

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

CORPORATION BANK Announces Quarterly Results (2QFY20); Net Profit Up 26.0%
Thu, 14 Nov

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

CORPORATION BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Operating incomeRs m39,70639,85640,0720.5%0.9%
Other incomeRs m2,4624,3237,05763.2%186.6%
Total revenuesRs m42,16844,17947,1306.7%11.8%
InterestRs m25,13026,86926,728-0.5%6.4%
Gross Profit Rs m14,57612,98713,3442.8%-8.5%
Other expensesRs m8,0488,76010,23716.9%27.2%
Profit before taxRs m9071,2542,27081.0%150.2%
TaxRs m-123222972338.9%
Profit after taxRs m1,0301,0331,29825.6%26.0%
Gross profit margin %36.732.633.3
Effective tax rate%-13.517.742.8
Net profit margin%2.62.63.2
* 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 0.9% on a year-on-year (YoY) basis. The interest expended was up by 6.4% YoY during the same period.
  • The bank's operating profit declined by 8.5% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 33.3% in 2QFY20 as against 36.7% in 2QFY19.
  • Other income increased by 186.6% YoY during the quarter.
  • Net profit for the quarter increased by 26.0% YoY. Net profit margins during the quarter increased from 2.6% in 2QFY19 to 3.2% in 2QFY20.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 0.5% on a quarter-on-quarter (QoQ) basis. The interest expended was down by 0.5% QoQ during the same period.
  • The bank's operating profit increased by 2.8% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 33.3% in 2QFY20 as against 32.6% in 1QFY19.
  • Net profit for the quarter increased by 25.6% QoQ, while net profit margins increased from 2.6% in 1QFY19 to 3.2% in 2QFY20.

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

Last Chance: Grab Your Free Spot for Rahul Shah's Lazy Millionaire Summit

CORPORATION BANK Share Price Performance

Over the last one year,CORPORATION BANK share price has moved down from Rs 27.8 to Rs 15.8, registering a Loss of Rs 12.0 or around 43.2%.

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 15.8, the price to book value (P/BV) ratio of CORPORATION BANK stands at 0.1 times.

Equitymaster requests your view! Post a comment on "CORPORATION BANK Announces Quarterly Results (2QFY20); Net Profit Up 26.0%". Click here!

  

Related Views on News

ICICI Bank Posts Threefold Jump in Net Profit; Net Interest Income Grows 17% (Company Info)

Apr 26, 2021

Key takeaways from ICICI Bank's March quarter (Q4FY21) results.

HDFC Bank Posts Good Q4 Performance Amid Covid-19 Second Wave (Company Info)

Apr 20, 2021

Key takeaways from HDFC Bank's March quarter (Q4FY21) results.

How the YES Bank Collapse Unfolded - 10 Points (Sector Info)

Mar 9, 2020

A timeline of how YES Bank went from a stock market darling to a pariah.

Today's Stock Market Crash: 10 Points (Sector Info)

Mar 6, 2020

Top factors that dragged the markets lower today.

More Views on News

Most Popular

10 Indian Companies with the Fastest Growth in Dividend Payouts...(Views On News)

Jan 10, 2022

These companies have been consistently paying higher dividends for several years.

Tata Steel vs SAIL: Which Stock is Better?(Views On News)

Jan 13, 2022

With government initiatives set to boost the steel sector, find out who has a better chance of coming out on top.

Watch Out for these 4 Indian Companies Betting Big on EV Supply Chain(Views On News)

Jan 11, 2022

The upside in supply chain players could be huge but a delay in the transition to EVs, or any policy related hiccups could end the momentum.

Tech Mahindra's CTC Acquisition: Too Expensive?(Views On News)

Jan 18, 2022

Tech Mahindra's acquisition of European IT-company fails to excite investors.

These 5 Penny Stocks are Held by Rakesh Jhunjhunwala. Worth a Look?(Views On News)

Jan 18, 2022

Rakesh Jhunjhunwala is holding these penny stocks in his portfolio for several years now.

More

Become A Smarter Investor
In Just 5 Minutes

Multibagger Stock Guide 2022
Get our special report Multibagger Stocks Guide (2022 Edition) Now!
We will never sell or rent your email id.
Please read our Terms

CORPORATION BANK SHARE PRICE


Mar 19, 2020 (Close)

TRACK CORPORATION BANK

  • Track your investment in CORPORATION BANK with Equitymaster's Portfolio Tracker. Set live price alerts, get research alerts and more. Get access now...
  • Add To MyStocks

MORE ON CORPORATION BANK

CORPORATION BANK 8-QTR ANALYSIS

COMPARE CORPORATION BANK WITH

MARKET STATS