KARUR VYSYA BANK Announces Quarterly Results (1QFY20); Net Profit Up 58.8%

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KARUR VYSYA BANK Announces Quarterly Results (1QFY20); Net Profit Up 58.8%
Mon, 29 Jul

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

KARUR VYSYA BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Operating incomeRs m14,42514,73614,9251.3%3.5%
Other incomeRs m2,5492,7252,698-1.0%5.9%
Total revenuesRs m16,97417,46017,6240.9%3.8%
InterestRs m8,5898,5449,0866.3%5.8%
Gross Profit Rs m5,8366,1925,840-5.7%0.1%
Other expensesRs m3,7894,2694,087-4.3%7.9%
Profit before taxRs m3701,1241,1522.4%211.7%
TaxRs m-90524422-19.4%
Profit after taxRs m45960072921.5%58.8%
Gross profit margin %40.542.039.1
Effective tax rate%-24.246.636.7
Net profit margin%3.24.14.9
* 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 3.5% on a year-on-year (YoY) basis. The interest expended was up by 5.8% YoY during the same period.
  • The bank's operating profit increased by 0.1% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 39.1% in 1QFY20 as against 40.5% in 1QFY19.
  • Other income increased by 5.9% YoY during the quarter.
  • Net profit for the quarter increased by 58.8% YoY. Net profit margins during the quarter increased from 3.2% in 1QFY19 to 4.9% in 1QFY20.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 1.3% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 6.3% QoQ during the same period.
  • The bank's operating profit declined by 5.7% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 39.1% in 1QFY20 as against 42.0% in 4QFY19.
  • Net profit for the quarter increased by 21.5% QoQ, while net profit margins increased from 4.1% in 4QFY19 to 4.9% in 1QFY20.

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

KARUR VYSYA BANK Share Price Performance

Over the last one year,KARUR VYSYA BANK share price has moved down from Rs 98.0 to Rs 63.9, registering a Loss of Rs 34.2 or around 34.8%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 33,088.5 (down 0.1%). Over the last one year it has moved up from 30,743.1 to 33,088.5, a gain of 2,345 points (up 7.6%).

Overall, the S&P BSE SENSEX is up 1.7% over the year.

Current Valuations

At the current price of Rs 63.9, the price to earnings (P/E) ratio of KARUR VYSYA BANK stands at 16.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.6 times.

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