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.

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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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