CITY UNION BANK Announces Quarterly Results (2QFY20); Net Profit Up 15.2%

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CITY UNION BANK Announces Quarterly Results (2QFY20); Net Profit Up 15.2%
Thu, 14 Nov

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

CITY UNION BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Operating incomeRs m9,26510,29210,3680.7%11.9%
Other incomeRs m1,1861,6331,95019.4%64.5%
Total revenuesRs m10,45011,92512,3183.3%17.9%
InterestRs m5,2856,1246,2532.1%18.3%
Gross Profit Rs m3,9804,1694,115-1.3%3.4%
Other expensesRs m2,2062,2882,60013.7%17.9%
Profit before taxRs m2,2802,3562,3851.2%4.6%
TaxRs m600500450-10.0%-25.0%
Profit after taxRs m1,6801,8561,9354.2%15.2%
Gross profit margin %43.040.539.7
Effective tax rate%26.321.218.9
Net profit margin%18.118.018.7
* 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 11.9% on a year-on-year (YoY) basis. The interest expended was up by 18.3% YoY during the same period.
  • The bank's operating profit increased by 3.4% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 39.7% in 2QFY20 as against 43.0% in 2QFY19.
  • Other income increased by 64.5% YoY during the quarter.
  • Net profit for the quarter increased by 15.2% YoY. Net profit margins during the quarter increased from 18.1% in 2QFY19 to 18.7% in 2QFY20.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 0.7% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 2.1% QoQ during the same period.
  • The bank's operating profit declined by 1.3% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 39.7% in 2QFY20 as against 40.5% in 1QFY19.
  • Net profit for the quarter increased by 4.2% QoQ, while net profit margins increased from 18.0% in 1QFY19 to 18.7% in 2QFY20.

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

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CITY UNION BANK Share Price Performance

Over the last one year,CITY UNION BANK share price has moved up from Rs 164.0 to Rs 206.1, registering a Gain of Rs 42.1 or around 25.6%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 34,648.8 (up 0.5%). Over the last one year it has moved up from 29,298.7 to 34,648.8, a gain of 5,350 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 206.1, the price to earnings (P/E) ratio of CITY UNION BANK stands at 16.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.5 times.

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

Aug 8, 2019 | Updated on Aug 8, 2019

For the quarter ended June 2019, CITY UNION BANK has posted a net profit of Rs 2 bn (up 14.9% YoY). Sales on the other hand came in at Rs 10 bn (up 15.7% YoY). Read on for a complete analysis of CITY UNION BANK's quarterly results.

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