KARNATAKA BANK Announces Quarterly Results (1QFY20); Net Profit Up 7.5%
Mon, 15 Jul

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

KARNATAKA BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Operating incomeRs m14,07615,31315,8443.5%12.6%
Other incomeRs m2,0882,9062,448-15.8%17.2%
Total revenuesRs m16,16418,21918,2920.4%13.2%
InterestRs m9,39110,50410,8983.7%16.1%
Gross Profit Rs m4,6864,8094,9462.9%5.6%
Other expensesRs m3,0854,4723,894-12.9%26.2%
Profit before taxRs m1,4681,0651,48939.8%1.4%
TaxRs m-164448-266-159.3%
Profit after taxRs m1,6326171,754184.2%7.5%
Gross profit margin %33.331.431.2
Effective tax rate%-11.242.0-17.8
Net profit margin%11.64.011.1
* 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 grew 12.6% on a year-on-year (YoY) basis. The interest expended was up by 16.1% YoY during the same period.
  • The bank's operating profit increased by 5.6% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 31.2% in 1QFY20 as against 33.3% in 1QFY19.
  • Other income increased by 17.2% YoY during the quarter.
  • Net profit for the quarter increased by 7.5% YoY. Net profit margins during the quarter declined from 11.6% in 1QFY19 to 11.1% in 1QFY20.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 3.5% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 3.7% QoQ during the same period.
  • The bank's operating profit declined by 2.9% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 31.2% in 1QFY20 as against 31.4% in 4QFY19.
  • Net profit for the quarter increased by 184.2% QoQ, while net profit margins increased from 4.0% in 4QFY19 to 11.1% in 1QFY20.

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 down from Rs 114.4 to Rs 102.3, registering a Loss of Rs 12.2 or around 10.6%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 34,300.9 (down 0.3%). Over the last one year it has moved up from 29,788.5 to 34,300.9, a gain of 4,512 points (up 15.1%).

Overall, the S&P BSE SENSEX is up 6.3% over the year.

Current Valuations

At the current price of Rs 102.3, the price to earnings (P/E) ratio of KARNATAKA BANK stands at 5.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.5 times.