KARUR VYSYA BANK Announces Quarterly Results (3QFY20); Net Profit Down 28.9%

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KARUR VYSYA BANK Announces Quarterly Results (3QFY20); Net Profit Down 28.9%
Wed, 5 Feb

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

KARUR VYSYA BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-18*
3
Sep-19*
3
Dec-19*
QoQ ChangeYoY Change
Operating incomeRs m14,42815,37515,038-2.2%4.2%
Other incomeRs m2,5992,7772,601-6.4%0.1%
Total revenuesRs m17,02718,15217,638-2.8%3.6%
InterestRs m8,6199,4129,266-1.6%7.5%
Gross Profit Rs m5,8085,9635,772-3.2%-0.6%
Other expensesRs m4,1574,4294,5252.2%8.9%
Profit before taxRs m246660205-69.0%-16.8%
TaxRs m342754103.0%58.4%
Profit after taxRs m212633151-76.2%-28.9%
Gross profit margin %40.338.838.4
Effective tax rate%13.94.026.4
Net profit margin%1.54.11.0
* 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 4.2% on a year-on-year (YoY) basis. The interest expended was up by 7.5% YoY during the same period.
  • The bank's operating profit declined by 0.6% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 38.4% in 3QFY20 as against 40.3% in 3QFY19.
  • Other income increased by 0.1% YoY during the quarter.
  • Net profit for the quarter declined by 28.9% YoY. Net profit margins during the quarter declined from 1.5% in 3QFY19 to 1.0% in 3QFY20.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter fell 2.2% on a quarter-on-quarter (QoQ) basis. The interest expended was down by 1.6% QoQ during the same period.
  • The bank's operating profit declined by 3.2% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 38.4% in 3QFY20 as against 38.8% in 2QFY19.
  • Net profit for the quarter declined by 76.2% QoQ, while net profit margins declined from 4.1% in 2QFY19 to 1.0% in 3QFY20.

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

RELEASED: Richa Agarwal's No. 1 Stock Pick for 2021

KARUR VYSYA BANK Share Price Performance

Over the last one year,KARUR VYSYA BANK share price has moved down from Rs 86.0 to Rs 47.0, registering a Loss of Rs 39.0 or around 45.3%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 35,367.1 (up 0.6%). Over the last one year it has moved up from 30,559.0 to 35,367.1, a gain of 4,808 points (up 15.7%).

Overall, the S&P BSE SENSEX is up 12.0% over the year.

Current Valuations

At the current price of Rs 47.0, the price to earnings (P/E) ratio of KARUR VYSYA BANK stands at 13.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.5 times.

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

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For the quarter ended June 2020, KARUR VYSYA BANK has posted a net profit of Rs 1 bn (up 44.7% YoY). Sales on the other hand came in at Rs 14 bn (down 7.8% YoY). Read on for a complete analysis of KARUR VYSYA BANK's quarterly results.

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