KARUR VYSYA BANK Announces Quarterly Results (2QFY19); Net Profit Up 10.7%

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KARUR VYSYA BANK Announces Quarterly Results (2QFY19); Net Profit Up 10.7%
Mon, 5 Nov

KARUR VYSYA BANK has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

KARUR VYSYA BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Operating incomeRs m14,02414,42514,5691.0%3.9%
Other incomeRs m2,3012,5491,756-31.1%-23.7%
Total revenuesRs m16,32516,97416,325-3.8%0.0%
InterestRs m8,4748,5898,7782.2%3.6%
Gross Profit Rs m5,5505,8365,791-0.8%4.3%
Other expensesRs m3,5813,7893,9333.8%9.8%
Profit before taxRs m1,0573701,483301.2%40.3%
TaxRs m300-90645115.0%
Profit after taxRs m75745983782.4%10.7%
Gross profit margin %39.640.539.8
Effective tax rate%28.4-24.243.5
Net profit margin%5.43.25.7
* 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 3.9% on a year-on-year (YoY) basis. The interest expended was up by 3.6% YoY during the same period.
  • The bank's operating profit increased by 4.3% YoY during the quarter. Consequently, operating profit margins remained same and stood at 39.8% in 2QFY19.
  • Other income declined by 23.7% YoY during the quarter.
  • Net profit for the quarter increased by 10.7% YoY. Net profit margins during the quarter increased from 5.4% in 2QFY18 to 5.7% in 2QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 1.0% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 2.2% QoQ during the same period.
  • The bank's operating profit declined by 0.8% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 39.8% in 2QFY19 as against 40.5% in 1QFY18.
  • Net profit for the quarter increased by 82.4% QoQ, while net profit margins increased from 3.2% in 1QFY18 to 5.7% in 2QFY19.

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 up from Rs 127.3 to Rs 78.8, registering a Loss of Rs 48.6 or around 38.1%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 28,972.3 (down 0.2%). Over the last one year it has moved down from 29,092.1 to 28,972.3, a gain of 120 points (down 0.4%).

Overall, the S&P BSE SENSEX is up 3.9% over the year.

Current Valuations

At the current price of Rs 78.8, the price to earnings (P/E) ratio of KARUR VYSYA BANK stands at 19.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.0 times.

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