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CITY UNION BANK Announces Quarterly Results (4QFY18); Net Profit Up 18.0%

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CITY UNION BANK Announces Quarterly Results (4QFY18); Net Profit Up 18.0%
Thu, 19 Jul

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

CITY UNION BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-17*
3
Dec-17*
3
Mar-18*
QoQ ChangeYoY Change
Operating incomeRs m7,9998,6548,7070.6%8.8%
Other incomeRs m1,2581,2171,198-1.5%-4.8%
Total revenuesRs m9,2589,8709,9050.3%7.0%
InterestRs m4,8935,0025,0270.5%2.7%
Gross Profit Rs m2,3933,6513,6790.8%53.8%
Other expensesRs m1,8881,9041,9351.6%2.5%
Profit before taxRs m1,7642,1082,081-1.3%18.0%
TaxRs m4755605600.0%17.9%
Profit after taxRs m1,2891,5481,521-1.7%18.0%
Gross profit margin %29.942.242.3
Effective tax rate%26.926.626.9
Net profit margin%16.117.917.5
* 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 8.8% on a year-on-year (YoY) basis. The interest expended was up by 2.7% YoY during the same period.
  • The bank's operating profit increased by 53.8% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 42.3% in 4QFY18 as against 29.9% in 4QFY17.
  • Other income declined by 4.8% YoY during the quarter.
  • Net profit for the quarter increased by 18.0% YoY. Net profit margins during the quarter increased from 16.1% in 4QFY17 to 17.5% in 4QFY18.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 0.6% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 0.5% QoQ during the same period.
  • The bank's operating profit increased by 0.8% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 42.3% in 4QFY18 as against 42.2% in 3QFY17.
  • Net profit for the quarter declined by 1.7% QoQ, while net profit margins declined from 17.9% in 3QFY17 to 17.5% in 4QFY18.

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 164.6 to Rs 169.6, registering a Gain of Rs 5.0 or around 3.0%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 29,605.7 (down 0.4%). Over the last one year it has moved up from 27,375.4 to 29,605.7, a gain of 2,230.3 points (up 8.1%).

Overall, the S&P BSE SENSEX is down 0.1% over the year.

Current Valuations

At the current price of Rs 169.6, the price to earnings (P/E) ratio of CITY UNION BANK stands at 17.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.8 times.

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