CITY UNION BANK Announces Quarterly Results (4QFY19); Net Profit Up 15.1%

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CITY UNION BANK Announces Quarterly Results (4QFY19); Net Profit Up 15.1%
Tue, 21 May

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

CITY UNION BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Operating incomeRs m8,7079,6669,8461.9%13.1%
Other incomeRs m1,1981,1981,46922.6%22.6%
Total revenuesRs m9,90510,86511,3144.1%14.2%
InterestRs m5,0275,4855,6402.8%12.2%
Gross Profit Rs m3,6794,1814,2060.6%14.3%
Other expensesRs m1,9352,3112,297-0.6%18.7%
Profit before taxRs m2,0812,2812,4718.3%18.7%
TaxRs m56050072044.0%28.6%
Profit after taxRs m1,5211,7811,751-1.7%15.1%
Gross profit margin %42.343.342.7
Effective tax rate%26.921.929.1
Net profit margin%17.518.417.8
* 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 13.1% on a year-on-year (YoY) basis. The interest expended was up by 12.2% YoY during the same period.
  • The bank's operating profit increased by 14.3% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 42.7% in 4QFY19 as against 42.3% in 4QFY18.
  • Other income increased by 22.6% YoY during the quarter.
  • Net profit for the quarter increased by 15.1% YoY. Net profit margins during the quarter increased from 17.5% in 4QFY18 to 17.8% in 4QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 1.9% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 2.8% QoQ during the same period.
  • The bank's operating profit declined by 0.6% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 42.7% in 4QFY19 as against 43.3% in 3QFY18.
  • Net profit for the quarter declined by 1.7% QoQ, while net profit margins declined from 18.4% in 3QFY18 to 17.8% in 4QFY19.

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

CITY UNION BANK Share Price Performance

Over the last one year, CITY UNION BANK share price has moved up from Rs 186.1 to Rs 206.5, registering a Gain of Rs 20.4 or around 11.0%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 34,369.7 (down 0.1%). Over the last one year it has moved up from 28,851.1 to 34,369.7, a gain of 5,519 points (up 19.1%).

Overall, the S&P BSE SENSEX is up 14.0% over the year.

Current Valuations

At the current price of Rs 206.5, the price to earnings (P/E) ratio of CITY UNION BANK stands at 18.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.0 times.

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