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KARUR VYSYA BANK Announces Quarterly Results (4QFY19); Net Profit Up 18.7%

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KARUR VYSYA BANK Announces Quarterly Results (4QFY19); Net Profit Up 18.7%
Mon, 27 May

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

KARUR VYSYA BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Operating incomeRs m14,90914,42814,7362.1%-1.2%
Other incomeRs m2,0872,5992,7254.8%30.6%
Total revenuesRs m16,99517,02717,4602.5%2.7%
InterestRs m8,4808,6198,544-0.9%0.8%
Gross Profit Rs m6,4295,8086,1926.6%-3.7%
Other expensesRs m3,7184,1574,2692.7%14.8%
Profit before taxRs m8552461,124356.8%31.4%
TaxRs m350345241437.0%49.8%
Profit after taxRs m506212600183.1%18.7%
Gross profit margin %43.140.342.0
Effective tax rate%40.913.946.6
Net profit margin%3.41.54.1
* 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 fell 1.2% on a year-on-year (YoY) basis. The interest expended was up by 0.8% YoY during the same period.
  • The bank's operating profit declined by 3.7% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 42.0% in 4QFY19 as against 43.1% in 4QFY18.
  • Other income increased by 30.6% YoY during the quarter.
  • Net profit for the quarter increased by 18.7% YoY. Net profit margins during the quarter increased from 3.4% in 4QFY18 to 4.1% in 4QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 2.1% on a quarter-on-quarter (QoQ) basis. The interest expended was down by 0.9% QoQ during the same period.
  • The bank's operating profit increased by 6.6% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 42.0% in 4QFY19 as against 40.3% in 3QFY18.
  • Net profit for the quarter increased by 183.1% QoQ, while net profit margins increased from 1.5% in 3QFY18 to 4.1% in 4QFY19.

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 98.8 to Rs 80.5, registering a Loss of Rs 18.3 or around 18.5%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 35,367.3 (up 0.5%). Over the last one year it has moved up from 29,541.0 to 35,367.3, a gain of 5,826 points (up 19.7%).

Overall, the S&P BSE SENSEX is up 14.3% over the year.

Current Valuations

At the current price of Rs 80.5, the price to earnings (P/E) ratio of KARUR VYSYA BANK stands at 23.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.1 times.

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