City Union Bank Ltd Q3 FY2024 net profit slips QoQ to Rs. 253.03 crores

City Union Bank Limited has reported Standalone financial results for the period ended December 31, 2023.

Financial Results (Q3 FY2024) - QoQ Comparison

The company has reported total income of Rs. 1519.1113 crores during the period ended December 31, 2023 as compared to Rs. 1486.1144 crores during the period ended September 30, 2023.

The company has posted net profit / (loss) of Rs. 253.0335 crores for the period ended December 31, 2023 as against net profit / (loss) of Rs. 280.6125 crores for the period ended September 30, 2023.

The company has reported EPS of Rs. 3.39 for the period ended December 31, 2023 as compared to Rs. 3.75 for the period ended September 30, 2023.

Financials	Q3 FY2024	Q2 FY2024	% Change
Total Income	₹ 1519.1113 crs	₹1486.1144 crs	2.22%
Net Profit	₹253.0335 crs	₹280.6125 crs	-9.83%
EPS	₹3.39	₹3.75	-9.60%

Financial Results (Q3 FY2024) - YoY Comparison

The company has reported total income of Rs. 1519.1113 crores during the period ended December 31, 2023 as compared to Rs.1429.9761 crores during the period ended December 31, 2022.

The company has posted net profit / (loss) of Rs.253.0335 crores for the period ended December 31, 2023 as against net profit / (loss) of Rs.217.8387 crores for the period ended December 31, 2022.

The company has reported EPS of Rs.3.39 for the period ended December 31, 2023 as compared to Rs.2.92 for the period ended December 31, 2022.

Financials	Q3 FY2024	Q3 FY2023	% Change
Total Income	₹ 1519.1113 crs	₹1429.9761 crs	6.23%
Net Profit	₹253.0335 crs	₹217.8387 crs	16.16%
EPS	₹3.39	₹2.92	16.10%

Financial Results (9 Months Ended FY2024) - YoY Comparison

The company has reported total income of Rs.4462.8754 crores during the 9 Months period ended December 31, 2023 as compared to Rs.4101.6058 crores during the 9 Months period ended December 31, 2022.

The company has posted net profit / (loss) of Rs.760.9123 crores for the 9 Months period ended December 31, 2023 as against net profit / (loss) of Rs.719.4362 crores for the 9 Months period ended December 31, 2022.

The company has reported EPS of Rs.10.20 for the 9 Months period ended December 31, 2023 as compared to Rs.9.63 for the 9 Months period ended December 31, 2022.

Financials	9 Months Ended FY2024	9 Months Ended FY2023	% Change
Total Income	₹4462.8754 crs	₹4101.6058 crs	8.81%
Net Profit	₹760.9123 crs	₹719.4362 crs	5.77%
EPS	₹10.20	₹9.63	5.92%

Asset Quality:

Asset Quality	Q3 FY2024	Q2 FY2024	Q3 FY2023
Gross NPA	₹1968.1118 crs	₹2034.6338 crs	₹1988.6650 crs
Gross NPA %	4.47%	4.66%	4.62%
Net NPA	₹940.9040 crs	₹998.7294 crs	₹1124.4719 crs
Net NPA %	2.19%	2.34%	2.67%

Gross NPA was at ₹ 1968.1118 crs in Q3 FY2024 against ₹ 1988.6650 crs in Q3 FY2023. The same was at ₹ 2034.6338 crs in Q2 FY2024.

Net NPA was at ₹ 940.9040 crs in Q3 FY2024 against ₹ 1124.4719 crs in Q3 FY2023. The same was at ₹ 998.7294 crs in Q2 FY2024.

GNPA was at 4.47% of Gross advances as on December 31, 2023 as compared to 4.62% as on December 31, 2022 and 4.66% as of September 30, 2023.

Net NPA was at 2.19% of Gross advances as on December 31, 2023 as compared to 2.67% as on December 31, 2022 and 2.34% as of September 30, 2023.

Ratios	Q3 FY2024	Q2 FY2024	Q3 FY2023
RoA %	1.49%	1.69%	1.34%
CAR (BASEL III) %	21.87%	22.21%	20.47%

Return on Average Assets (RoA) is at 1.49% for Q3 FY2024 against 1.69% in Q2 FY2024 and 1.34% in Q3 FY2023.

In Q3 FY2024, Bank's total Capital Adequacy Ratio (CAR) was at 21.87%, as compared to 22.21% in Q2 FY2024 and 20.47% in Q3 FY2023.

Shares of City Union Bank Limited was last trading in BSE at Rs. 144.95 as compared to the previous close of Rs. 142.95. The total number of shares traded during the day was 64507 in over 935 trades.

The stock hit an intraday high of Rs. 145.50 and intraday low of 142.80. The net turnover during the day was Rs. 9340426.00.

Source : Equity Bulls

Keywords

CityUnionBank Q3FY24 9MFY24 ResultUpdate CUB