City Union Bank posts net profit of Rs. 217.83 crores in Q3 FY2023

City Union Bank Limited has reported Standalone financial results for the period ended December 31, 2022.

Financial Results (Q3 FY2023) - QoQ Comparison

The company has reported total income of Rs. 1429.9761 crores during the period ended December 31, 2022 as compared to Rs. 1354.6530 crores during the period ended September 30, 2022.

The company has posted net profit / (loss) of Rs. 217.8387 crores for the period ended December 31, 2022 as against net profit / (loss) of Rs. 276.4536 crores for the period ended September 30, 2022.

The company has reported EPS of Rs. 2.92 for the period ended December 31, 2022 as compared to Rs. 3.70 for the period ended September 30, 2022.

Financials	Q3 FY2023	Q2 FY2023	% Change
Total Income	₹1429.9761 crs	₹1354.6530 crs	5.56%
Net Profit	₹217.8387 crs	₹276.4536 crs	-21.20%
EPS	₹2.92	₹3.70	-21.08%

Financial Results (Q3 FY2023) - YoY Comparison

The company has reported total income of Rs.1429.9761 crores during the period ended December 31, 2022 as compared to Rs.1195.2446 crores during the period ended December 31, 2021.

The company has posted net profit / (loss) of Rs.217.8387 crores for the period ended December 31, 2022 as against net profit / (loss) of Rs.196.1164 crores for the period ended December 31, 2021.

The company has reported EPS of Rs.2.92 for the period ended December 31, 2022 as compared to Rs.2.62 for the period ended December 31, 2021.

Financials	Q3 FY2023	Q3 FY2022	% Change
Total Income	₹1429.9761 crs	₹1195.2446 crs	19.64%
Net Profit	₹217.8387 crs	₹196.1164 crs	11.08%
EPS	₹2.92	₹2.62	11.45%

Financial Results (9 Months Ended FY2023) - YoY Comparison

The company has reported total income of Rs.4101.6058 crores during the 9 Months period ended December 31, 2022 as compared to Rs.3610.9898 crores during the 9 Months period ended December 31, 2021.

The company has posted net profit / (loss) of Rs.719.4362 crores for the 9 Months period ended December 31, 2022 as against net profit / (loss) of Rs.551.2082 crores for the 9 Months period ended December 31, 2021.

The company has reported EPS of Rs.9.63 for the 9 Months period ended December 31, 2022 as compared to Rs.7.37 for the 9 Months period ended December 31, 2021.

Financials	9 Months Ended FY2023	9 Months Ended FY2022	% Change
Total Income	₹4101.6058 crs	₹3610.9898 crs	13.59%
Net Profit	₹719.4362 crs	₹551.2082 crs	30.52%
EPS	₹9.63	₹7.37	30.66%

Asset Quality:

Asset Quality	Q3 FY2023	Q2 FY2023	Q3 FY2022
Gross NPA	₹1988.6650 crs	₹1861.8228 crs	₹1998.5507 crs
Gross NPA %	4.62%	4.36%	5.21%
Net NPA	₹1124.4719 crs	₹1128.6960 crs	₹1295.9133 crs
Net NPA %	2.67%	2.69%	3.44%

Gross NPA was at ₹ 1988.6650 crs in Q3 FY2023 against ₹ 1998.5507 crs in Q3 FY2022. The same was at ₹ 1861.8228 crs in Q2 FY2023.

Net NPA was at ₹ 1124.4719 crs in Q3 FY2023 against ₹ 1295.9133 crs in Q3 FY2022. The same was at ₹ 1128.6960 crs in Q2 FY2023.

GNPA was at 4.62% of Gross advances as on December 31, 2022 as compared to 5.21% as on December 31, 2021 and 4.36% as of September 30, 2022.

Net NPA was at 2.67% of Gross advances as on December 31, 2022 as compared to 3.44% as on December 31, 2021 and 2.69% as of September 30, 2022.

Ratios	Q3 FY2023	Q2 FY2023	Q3 FY2022
RoA %	1.34%	1.72%	1.36%
CAR (BASEL III) %	20.47%	20.08%	19.39%

Return on Average Assets (RoA) is at 1.34% for Q3 FY2023 against 1.72% in Q2 FY2023 and 1.36% in Q3 FY2022.

In Q3 FY2023, Bank's total Capital Adequacy Ratio (CAR) was at 20.47%, as compared to 20.08% in Q2 FY2023 and 19.39% in Q3 FY2022.

Shares of City Union Bank Limited was last trading in BSE at Rs. 160.00 as compared to the previous close of Rs. 157.20. The total number of shares traded during the day was 222464 in over 1226 trades.

The stock hit an intraday high of Rs. 161.80 and intraday low of 157.00. The net turnover during the day was Rs. 35365302.00.

Source : Equity Bulls

Keywords

CityUnionBank Q3FY23 9MFY23 ResultUpdate CUB