CITY UNION BANK Announces Quarterly Results (4QFY20); Net Profit Down 154.4%

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CITY UNION BANK Announces Quarterly Results (4QFY20); Net Profit Down 154.4%
Fri, 19 Jun

CITY UNION BANK has announced its results for the quarter ended March 2020. Here is a detailed performance review of the same:

CITY UNION BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-19*
3
Dec-19*
3
Mar-20*
QoQ ChangeYoY Change
Operating incomeRs m9,84610,60910,417-1.8%5.8%
Other incomeRs m1,4691,4241,79325.9%22.1%
Total revenuesRs m11,31412,03212,2101.5%7.9%
InterestRs m5,6406,3366,222-1.8%10.3%
Gross Profit Rs m4,2064,2734,195-1.8%-0.3%
Other expensesRs m2,2972,6122,6371.0%14.8%
Profit before taxRs m2,4712,274-1,153-150.7%-146.7%
TaxRs m720350-200-157.1%-127.8%
Profit after taxRs m1,7511,924-953-149.5%-154.4%
Gross profit margin %42.740.340.3
Effective tax rate%29.115.417.3
Net profit margin%17.818.1-9.1
* 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 5.8% on a year-on-year (YoY) basis. The interest expended was up by 10.3% YoY during the same period.
  • The bank's operating profit declined by 0.3% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 40.3% in 4QFY20 as against 42.7% in 4QFY19.
  • Other income increased by 22.1% YoY during the quarter.
  • Net profit for the quarter declined by 154.4% YoY. Net profit margins during the quarter declined from 17.8% in 4QFY19 to -9.1% in 4QFY20.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter fell 1.8% on a quarter-on-quarter (QoQ) basis. The interest expended was down by 1.8% QoQ during the same period.
  • The bank's operating profit declined by 1.8% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 40.3% in 4QFY20 as against 40.3% in 3QFY19.
  • Net profit for the quarter declined by 149.5% QoQ, while net profit margins declined from 18.1% in 3QFY19 to -9.1% in 4QFY20.

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 down from Rs 211.9 to Rs 130.3, registering a Loss of Rs 81.6 or around 38.5%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 23,896.2 (up 0.1%). Over the last one year it has moved down from 34,062.5 to 23,896.2, a loss of 10,166 points (down 29.8%).

Overall, the S&P BSE SENSEX is down 12.2% over the year.

Current Valuations

At the current price of Rs 130.3, 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 1.6 times.

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