KARNATAKA BANK Announces Quarterly Results (3QFY20); Net Profit Down 12.3%
Mon, 20 Jan

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

KARNATAKA BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-18*
3
Sep-19*
3
Dec-19*
QoQ ChangeYoY Change
Operating incomeRs m15,14416,29616,216-0.5%7.1%
Other incomeRs m3,0143,0884,02130.2%33.4%
Total revenuesRs m18,15819,38420,2374.4%11.4%
InterestRs m10,26511,30911,138-1.5%8.5%
Gross Profit Rs m4,8804,9875,0781.8%4.1%
Other expensesRs m3,8903,9414,0813.6%4.9%
Profit before taxRs m1,9141,5101,87123.9%-2.2%
TaxRs m51045164041.7%25.5%
Profit after taxRs m1,4041,0591,23116.3%-12.3%
Gross profit margin %32.230.631.3
Effective tax rate%26.629.934.2
Net profit margin%9.36.57.6
* 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 7.1% on a year-on-year (YoY) basis. The interest expended was up by 8.5% YoY during the same period.
  • The bank's operating profit increased by 4.1% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 31.3% in 3QFY20 as against 32.2% in 3QFY19.
  • Other income increased by 33.4% YoY during the quarter.
  • Net profit for the quarter declined by 12.3% YoY. Net profit margins during the quarter declined from 9.3% in 3QFY19 to 7.6% in 3QFY20.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter fell 0.5% on a quarter-on-quarter (QoQ) basis. The interest expended was down by 1.5% QoQ during the same period.
  • The bank's operating profit increased by 1.8% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 31.3% in 3QFY20 as against 30.6% in 2QFY19.
  • Net profit for the quarter increased by 16.3% QoQ, while net profit margins increased from 6.5% in 2QFY19 to 7.6% in 3QFY20.

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

DISCOVER: How to Potentially Multiply Your Returns by Upto 5x...

KARNATAKA BANK Share Price Performance

Over the last one year,KARNATAKA BANK share price has moved down from Rs 121.6 to Rs 74.6, registering a Loss of Rs 47.0 or around 38.6%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 35,858.8 (down 0.5%). Over the last one year it has moved up from 30,739.8 to 35,858.8, a gain of 5,119 points (up 16.7%).

Overall, the S&P BSE SENSEX is up 14.7% over the year.

Current Valuations

At the current price of Rs 74.6, the price to earnings (P/E) ratio of KARNATAKA BANK stands at 4.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.4 times.