KARUR VYSYA BANK Announces Quarterly Results (2QFY20); Net Profit Down 24.4%

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KARUR VYSYA BANK Announces Quarterly Results (2QFY20); Net Profit Down 24.4%
Fri, 8 Nov

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

KARUR VYSYA BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Operating incomeRs m14,56914,92515,3753.0%5.5%
Other incomeRs m1,7562,6982,7772.9%58.2%
Total revenuesRs m16,32517,62418,1523.0%11.2%
InterestRs m8,7789,0869,4123.6%7.2%
Gross Profit Rs m5,7915,8405,9632.1%3.0%
Other expensesRs m3,9334,0874,4298.4%12.6%
Profit before taxRs m1,4831,152660-42.7%-55.5%
TaxRs m64542227-93.7%-95.9%
Profit after taxRs m837729633-13.2%-24.4%
Gross profit margin %39.839.138.8
Effective tax rate%43.536.74.0
Net profit margin%5.74.94.1
* 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 5.5% on a year-on-year (YoY) basis. The interest expended was up by 7.2% YoY during the same period.
  • The bank's operating profit increased by 3.0% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 38.8% in 2QFY20 as against 39.8% in 2QFY19.
  • Other income increased by 58.2% YoY during the quarter.
  • Net profit for the quarter declined by 24.4% YoY. Net profit margins during the quarter declined from 5.7% in 2QFY19 to 4.1% in 2QFY20.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 3.0% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 3.6% QoQ during the same period.
  • The bank's operating profit increased by 2.1% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 38.8% in 2QFY20 as against 39.1% in 1QFY19.
  • Net profit for the quarter declined by 13.2% QoQ, while net profit margins declined from 4.9% in 1QFY19 to 4.1% in 2QFY20.

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 80.7 to Rs 58.6, registering a Loss of Rs 22.1 or around 27.4%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 34,843.8 (up 0.7%). Over the last one year it has moved up from 29,041.3 to 34,843.8, a gain of 5,802 points (up 20.0%).

Overall, the S&P BSE SENSEX is up 15.1% over the year.

Current Valuations

At the current price of Rs 58.6, 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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