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.

Discover Now: One Stock for Potentially Life-changing Gains

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.

CORPORATION BANK Announces Quarterly Results (1QFY20); Net Profit Up 21.6% (Quarterly Result Update)

Aug 5, 2019 | Updated on Aug 5, 2019

For the quarter ended June 2019, CORPORATION BANK has posted a net profit of Rs 1 bn (up 21.6% YoY). Sales on the other hand came in at Rs 40 bn (down 4.9% YoY). Read on for a complete analysis of CORPORATION BANK's quarterly results.

CORPORATION BANK Announces Quarterly Results (4QFY19); Net Profit Down 258.0% (Quarterly Result Update)

May 21, 2019 | Updated on May 21, 2019

For the quarter ended March 2019, CORPORATION BANK has posted a net profit of Rs 66 bn (down 258.0% YoY). Sales on the other hand came in at Rs 36 bn (down 13.1% YoY). Read on for a complete analysis of CORPORATION BANK's quarterly 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.

More Views on News

Most Popular

Time to Buy Smallcaps?(Fast Profits Daily)

Apr 30, 2021

In this video, I'll show you why I favour smallcaps over the Nifty.

The Next Smallcap Winners(Profit Hunter)

Apr 30, 2021

Price is the only due diligence one might require to buy this business.

Sell in May and Go Away?(Fast Profits Daily)

Apr 28, 2021

Does the concept of selling stocks in the month of May, work in the Indian market?

This Fund Manager Has Taken the World by Storm. Will You Invest With Her?(Profit Hunter)

Apr 26, 2021

Should you invest with this Rockstar fund manager who has outperformed in a big way?

More

India's #1 Trader
Reveals His Secrets

Secret To Increasing Your Trading Profits Today
Get this Special Report,
The Secret to Increasing Your Trading Profits Today, 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 5-YR ANALYSIS

COMPARE CORPORATION BANK WITH

MARKET STATS