CITY UNION BANK Announces Quarterly Results (1QFY20); Net Profit Up 14.9%

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CITY UNION BANK Announces Quarterly Results (1QFY20); Net Profit Up 14.9%
Thu, 8 Aug

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

CITY UNION BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Operating incomeRs m8,8959,84610,2924.5%15.7%
Other incomeRs m1,2911,4691,63311.2%26.5%
Total revenuesRs m10,18611,31411,9255.4%17.1%
InterestRs m5,1475,6406,1248.6%19.0%
Gross Profit Rs m3,7484,2064,169-0.9%11.2%
Other expensesRs m2,0452,2972,288-0.4%11.9%
Profit before taxRs m2,2162,4712,356-4.6%6.3%
TaxRs m600720500-30.6%-16.7%
Profit after taxRs m1,6161,7511,8566.0%14.9%
Gross profit margin %42.142.740.5
Effective tax rate%27.129.121.2
Net profit margin%18.217.818.0
* 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 15.7% on a year-on-year (YoY) basis. The interest expended was up by 19.0% YoY during the same period.
  • The bank's operating profit increased by 11.2% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 40.5% in 1QFY20 as against 42.1% in 1QFY19.
  • Other income increased by 26.5% YoY during the quarter.
  • Net profit for the quarter increased by 14.9% YoY. Net profit margins during the quarter declined from 18.2% in 1QFY19 to 18.0% in 1QFY20.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 4.5% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 8.6% QoQ during the same period.
  • The bank's operating profit declined by 0.9% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 40.5% in 1QFY20 as against 42.7% in 4QFY19.
  • Net profit for the quarter increased by 6.0% QoQ, while net profit margins increased from 17.8% in 4QFY19 to 18.0% in 1QFY20.

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

CITY UNION BANK Share Price Performance

Over the last one year,CITY UNION BANK share price has moved up from Rs 177.8 to Rs 192.8, registering a Gain of Rs 15.0 or around 8.4%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 31,619.7 (up 0.8%). Over the last one year it has moved up from 31,587.7 to 31,619.7, a gain of 32 points (up 0.1%).

Overall, the S&P BSE SENSEX is down 1.4% over the year.

Current Valuations

At the current price of Rs 192.8, the price to earnings (P/E) ratio of CITY UNION BANK stands at 16.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.8 times.

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