SHRIRAM CITY UNION Announces Quarterly Results (2QFY19); Net Profit Up 25.7%

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SHRIRAM CITY UNION Announces Quarterly Results (2QFY19); Net Profit Up 25.7%
Fri, 9 Nov

SHRIRAM CITY UNION has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

SHRIRAM CITY UNION Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Operating incomeRs m12,84914,01715,1508.1%17.9%
Other incomeRs m4178-51.2%127.0%
Total revenuesRs m12,85314,03415,1588.0%17.9%
InterestRs m4,1254,6404,9526.7%20.1%
Gross Profit Rs m8,6369,30310,1168.7%17.1%
Other expensesRs m5,5995,7886,38710.3%14.1%
Profit before taxRs m3,0413,5323,7375.8%22.9%
TaxRs m1,0581,2361,2440.7%17.7%
Profit after taxRs m1,9832,2962,4938.6%25.7%
Gross profit margin %67.266.466.8
Effective tax rate%34.835.033.3
Net profit margin%15.416.416.5
* 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 17.9% on a year-on-year (YoY) basis. The interest expended was up by 20.1% YoY during the same period.
  • The bank's operating profit increased by 17.1% YoY during the quarter. Consequently, operating profit margins remained same and stood at 66.8% in 2QFY19.
  • Other income increased by 127.0% YoY during the quarter.
  • Net profit for the quarter increased by 25.7% YoY. Net profit margins during the quarter increased from 15.4% in 2QFY18 to 16.5% in 2QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 8.1% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 6.7% QoQ during the same period.
  • The bank's operating profit increased by 8.7% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 66.8% in 2QFY19 as against 66.4% in 1QFY18.
  • Net profit for the quarter increased by 8.6% QoQ, while net profit margins increased from 16.4% in 1QFY18 to 16.5% in 2QFY19.

To see how SHRIRAM CITY UNION has performed over the last eight quarters, please visit here.

SHRIRAM CITY UNION Share Price Performance

Over the last one year, SHRIRAM CITY UNION share price has moved up from Rs 2,127.3 to Rs 1,545.0, registering a Loss of Rs 582.3 or around 27.4%.

Overall, the S&P BSE SENSEX is up 5.3% over the year.

Current Valuations

At the current price of Rs 1,545.0, the price to earnings (P/E) ratio of SHRIRAM CITY UNION stands at 13.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.4 times.

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