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.

SHOCKING: Ex-Swiss Investment Banker's Lucrative Income Generating Secret

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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