KARUR VYSYA BANK Announces Quarterly Results (1QFY21); Net Profit Up 44.7%

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KARUR VYSYA BANK Announces Quarterly Results (1QFY21); Net Profit Up 44.7%
Mon, 31 Aug

KARUR VYSYA BANK has announced its results for the quarter ended June 2020. Here is a detailed performance review of the same:

KARUR VYSYA BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-19*
3
Mar-20*
3
Jun-20*
QoQ ChangeYoY Change
Operating incomeRs m14,92514,56213,761-5.5%-7.8%
Other incomeRs m2,6983,4703,171-8.6%17.5%
Total revenuesRs m17,62418,03216,932-6.1%-3.9%
InterestRs m9,0868,6578,143-5.9%-10.4%
Gross Profit Rs m5,8405,9055,618-4.9%-3.8%
Other expensesRs m4,0874,3764,051-7.4%-0.9%
Profit before taxRs m1,1527061,36393.2%18.4%
TaxRs m422-131308-27.1%
Profit after taxRs m7298371,05526.0%44.7%
Gross profit margin %39.140.640.8
Effective tax rate%36.7-18.622.6
Net profit margin%4.95.77.7
* 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 fell 7.8% on a year-on-year (YoY) basis. The interest expended was down by 10.4% YoY during the same period.
  • The bank's operating profit declined by 3.8% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 40.8% in 1QFY21 as against 39.1% in 1QFY20.
  • Other income increased by 17.5% YoY during the quarter.
  • Net profit for the quarter increased by 44.7% YoY. Net profit margins during the quarter increased from 4.9% in 1QFY20 to 7.7% in 1QFY21.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter fell 5.5% on a quarter-on-quarter (QoQ) basis. The interest expended was down by 5.9% QoQ during the same period.
  • The bank's operating profit declined by 4.9% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 40.8% in 1QFY21 as against 40.6% in 4QFY20.
  • Net profit for the quarter increased by 26.0% QoQ, while net profit margins increased from 5.7% in 4QFY20 to 7.7% in 1QFY21.

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

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KARUR VYSYA BANK Share Price Performance

Over the last one year,KARUR VYSYA BANK share price has moved down from Rs 58.5 to Rs 41.7, registering a Loss of Rs 16.9 or around 28.8%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 28,274.7 (up 1.4%). Over the last one year it has moved down from 30,949.7 to 28,274.7, a gain of 2,675 points (down 8.6%).

Overall, the S&P BSE SENSEX is up 6.5% over the year.

Current Valuations

At the current price of Rs 41.7, the price to earnings (P/E) ratio of KARUR VYSYA BANK stands at 9.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.4 times.

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