CSB BANK Announces Quarterly Results (1QFY22); Net Profit Up 13.9%

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CSB BANK Announces Quarterly Results (1QFY22); Net Profit Up 13.9%
Mon, 26 Jul

CSB BANK has announced its results for the quarter ended June 2021. Here is a detailed performance review of the same:

CSB BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-20*
3
Mar-21*
3
Jun-21*
QoQ ChangeYoY Change
Operating incomeRs m4,2264,9714,953-0.4%17.2%
Other incomeRs m7431,123763-32.1%2.7%
Total revenuesRs m4,9696,0955,715-6.2%15.0%
InterestRs m2,3732,2142,2752.7%-4.1%
Gross Profit Rs m1,8532,7572,678-2.9%44.5%
Other expensesRs m1,3052,5911,643-36.6%25.9%
Profit before taxRs m71658081540.5%13.9%
TaxRs m18015120535.7%14.0%
Profit after taxRs m53642961042.2%13.9%
Gross profit margin %43.855.554.1
Effective tax rate%25.226.125.2
Net profit margin%12.78.612.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster


Year-on-Year Performance:
  • The bank's operating income (interest earned) during the quarter grew 17.2% on a year-on-year (YoY) basis. The interest expended was down by 4.1% YoY during the same period.
  • The bank's operating profit increased by 44.5% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 54.1% in 1QFY22 as against 43.8% in 1QFY21.
  • Other income increased by 2.7% YoY during the quarter.
  • Net profit for the quarter increased by 13.9% YoY. Net profit margins during the quarter declined from 12.7% in 1QFY21 to 12.3% in 1QFY22.
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 2.7% QoQ during the same period.
  • The bank's operating profit declined by 2.9% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 54.1% in 1QFY22 as against 55.5% in 4QFY21.
  • Net profit for the quarter increased by 42.2% QoQ, while net profit margins increased from 8.6% in 4QFY21 to 12.3% in 1QFY22.

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

Find Out: How to Create Massive Gains from Govt's Mega 2023 Plan?

CSB BANK Share Price Performance

Over the last one year, CSB BANK share price has moved up from Rs 195.3 to Rs 353.1, registering a Gain of Rs 157.8 or around 80.8%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 39,789.3 (down 0.1%). Over the last one year it has moved up from 25,684.4 to 39,789.3, a gain of 14,105 points (up 54.9%).

Overall, the S&P BSE SENSEX is up 39.6% over the year.

Current Valuations

At the current price of Rs 353.1, the price to earnings (P/E) ratio of CSB BANK stands at 27.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.8 times.

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