KARNATAKA BANK Announces Quarterly Results (4QFY19); Net Profit Up 461.2%

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KARNATAKA BANK Announces Quarterly Results (4QFY19); Net Profit Up 461.2%
Tue, 14 May

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

KARNATAKA BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Operating incomeRs m14,43015,14415,3131.1%6.1%
Other incomeRs m2,9453,0142,906-3.6%-1.3%
Total revenuesRs m17,37618,15818,2190.3%4.9%
InterestRs m9,01510,26510,5042.3%16.5%
Gross Profit Rs m5,4154,8804,809-1.4%-11.2%
Other expensesRs m3,6073,8904,47215.0%24.0%
Profit before taxRs m-6641,9141,065-44.4%
TaxRs m-774510448-12.2%
Profit after taxRs m1101,404617-56.0%461.2%
Gross profit margin %37.532.231.4
Effective tax rate%116.626.642.0
Net profit margin%0.89.34.0
* 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 6.1% on a year-on-year (YoY) basis. The interest expended was up by 16.5% YoY during the same period.
  • The bank's operating profit declined by 11.2% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 31.4% in 4QFY19 as against 37.5% in 4QFY18.
  • Other income declined by 1.3% YoY during the quarter.
  • Net profit for the quarter increased by 461.2% YoY. Net profit margins during the quarter increased from 0.8% in 4QFY18 to 4.0% in 4QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 1.1% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 2.3% QoQ during the same period.
  • The bank's operating profit declined by 1.4% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 31.4% in 4QFY19 as against 32.2% in 3QFY18.
  • Net profit for the quarter declined by 56.0% QoQ, while net profit margins declined from 9.3% in 3QFY18 to 4.0% in 4QFY19.

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

KARNATAKA BANK Share Price Performance

Over the last one year, KARNATAKA BANK share price has moved up from Rs 112.8 to Rs 111.3, registering a Loss of Rs 1.5 or around 1.3%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 32,095.0 (up 0.3%). Over the last one year it has moved up from 29,739.1 to 32,095.0, a gain of 2,356 points (up 7.9%).

Overall, the S&P BSE SENSEX is up 4.2% over the year.

Current Valuations

At the current price of Rs 111.3, the price to earnings (P/E) ratio of KARNATAKA BANK stands at 6.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.6 times.

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