City Union Bank posts rise in net profit to Rs. 276.45 crores in Q2 FY2023

City Union Bank Limited has reported Standalone financial results for the period ended September 30, 2022.

Financial Results (Q2 FY2023) - QoQ Comparison

The company has reported total income of Rs. 1354.6530 crores during the period ended September 30, 2022 as compared to Rs. 1316.9767 crores during the period ended June 30, 2022.

The company has posted net profit / (loss) of Rs. 276.4536 crores for the period ended September 30, 2022 as against net profit / (loss) of Rs. 225.1439 crores for the period ended June 30, 2022.

The company has reported EPS of Rs. 3.70 for the period ended September 30, 2022 as compared to Rs. 3.01 for the period ended June 30, 2022.

Financials	Q2 FY2023	Q1 FY2023	% Change
Total Income	₹ 1354.6530 crs	₹1316.9767 crs	2.86%
Net Profit	₹276.4536 crs	₹225.1439 crs	22.79%
EPS	₹3.70	₹3.01	22.92%

Financial Results (Q2 FY2023) - YoY Comparison

The company has reported total income of Rs. 1354.6530 crores during the period ended September 30, 2022 as compared to Rs.1224.9408 crores during the period ended September 30, 2021.

The company has posted net profit / (loss) of Rs.276.4536 crores for the period ended September 30, 2022 as against net profit / (loss) of Rs.182.0978 crores for the period ended September 30, 2021.

The company has reported EPS of Rs.3.70 for the period ended September 30, 2022 as compared to Rs.2.43 for the period ended September 30, 2021.

Financials	Q2 FY2023	Q2 FY2022	% Change
Total Income	₹ 1354.6530 crs	₹1224.9408 crs	10.59%
Net Profit	₹276.4536 crs	₹182.0978 crs	51.82%
EPS	₹3.70	₹2.43	52.26%

Financial Results (Half Year Ended FY2023) - YoY Comparison

The company has reported total income of Rs.2671.6297 crores during the 6 Months period ended September 30, 2022 as compared to Rs.2415.7452 crores during the 6 Months period ended September 30, 2021.

The company has posted net profit / (loss) of Rs.501.5975 crores for the 6 Months period ended September 30, 2022 as against net profit / (loss) of Rs.355.0918 crores for the 6 Months period ended September 30, 2021.

The company has reported EPS of Rs.6.71 for the 6 Months period ended September 30, 2022 as compared to Rs.4.75 for the 6 Months period ended September 30, 2021.

Financials	Half Year Ended FY2023	Half Year Ended FY2022	% Change
Total Income	₹2671.6297 crs	₹2415.7452 crs	10.59%
Net Profit	₹501.5975 crs	₹355.0918 crs	41.26%
EPS	₹6.71	₹4.75	41.26%

Asset Quality:

Asset Quality	Q2 FY2023	Q1 FY2023	Q2 FY2022
Gross NPA	₹1861.8228 crs	₹1903.5093 crs	₹2119.3424 crs
Gross NPA %	4.36%	4.65%	5.58%
Net NPA	₹1128.6960 crs	₹1161.2426 crs	₹1294.0525 crs
Net NPA %	2.69%	2.89%	3.48%

Gross NPA was at ₹ 1861.8228 crs in Q2 FY2023 against ₹ 2119.3424 crs in Q2 FY2022. The same was at ₹ 1903.5093 crs in Q1 FY2023.

Net NPA was at ₹ 1128.6960 crs in Q2 FY2023 against ₹ 1294.0525 crs in Q2 FY2022. The same was at ₹ 1161.2426 crs in Q1 FY2023.

GNPA was at 4.36% of Gross advances as on September 30, 2022 as compared to 5.58% as on September 30, 2021 and 4.65% as of June 30, 2022.

Net NPA was at 2.69% of Gross advances as on September 30, 2022 as compared to 3.48% as on September 30, 2021 and 2.89% as of June 30, 2022.

Ratios	Q2 FY2023	Q1 FY2023	Q2 FY2022
RoA %	1.72%	1.46%	1.32%
CAR (BASEL III) %	20.08%	20.48%	19.24%

Return on Average Assets (RoA) is at 1.72% for Q2 FY2023 against 1.46% in Q1 FY2023 and 1.32% in Q2 FY2022.

In Q2 FY2023, Bank's total Capital Adequacy Ratio (CAR) was at 20.08%, as compared to 20.48% in Q1 FY2023 and 19.24% in Q2 FY2022.

Shares of City Union Bank Limited was last trading in BSE at Rs. 190.15 as compared to the previous close of Rs. 187.65. The total number of shares traded during the day was 123900 in over 2136 trades.

The stock hit an intraday high of Rs. 192.50 and intraday low of 186.35. The net turnover during the day was Rs. 23554831.00.

Source : Equity Bulls

Keywords

CityUnionBank Q2FY23 H1FY23 ResultUpdate CUB