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KARUR VYSYA BANK Announces Quarterly Results (3QFY19); Net Profit Down 70.3%

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KARUR VYSYA BANK Announces Quarterly Results (3QFY19); Net Profit Down 70.3%
Mon, 18 Feb

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

KARUR VYSYA BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Operating incomeRs m14,22314,56914,428-1.0%1.4%
Other incomeRs m2,2491,7562,59948.0%15.6%
Total revenuesRs m16,47216,32517,0274.3%3.4%
InterestRs m8,6078,7788,619-1.8%0.1%
Gross Profit Rs m5,6165,7915,8080.3%3.4%
Other expensesRs m3,6533,9334,1575.7%13.8%
Profit before taxRs m9651,483246-83.4%-74.5%
TaxRs m25064534-94.7%-86.4%
Profit after taxRs m715837212-74.7%-70.3%
Gross profit margin %39.539.840.3
Effective tax rate%25.943.513.9
Net profit margin%5.05.71.5
* 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 1.4% on a year-on-year (YoY) basis. The interest expended was up by 0.1% YoY during the same period.
  • The bank's operating profit increased by 3.4% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 40.3% in 3QFY19 as against 39.5% in 3QFY18.
  • Other income increased by 15.6% YoY during the quarter.
  • Net profit for the quarter declined by 70.3% YoY. Net profit margins during the quarter declined from 5.0% in 3QFY18 to 1.5% in 3QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter fell 1.0% 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 increased by 0.3% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 40.3% in 3QFY19 as against 39.8% in 2QFY18.
  • Net profit for the quarter declined by 74.7% QoQ, while net profit margins declined from 5.7% in 2QFY18 to 1.5% in 3QFY19.

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 110.8 to Rs 67.5, registering a Loss of Rs 43.4 or around 39.1%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 29,907.1 (down 0.2%). Over the last one year it has moved up from 28,396.5 to 29,907.1, a gain of 1,511 points (up 5.3%).

Overall, the S&P BSE SENSEX is up 3.6% over the year.

Current Valuations

At the current price of Rs 67.5, the price to earnings (P/E) ratio of KARUR VYSYA BANK stands at 20.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.9 times.

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