Karnataka Bank Q2FY18 standalone net profit declines 24.6% yoy to Rs.93.4 crore

India Infoline Research Team | October 13, 2017 15:04 IST

Karnataka Bank Ltd Q2FY18

Standalone Results Q2FY18: (Rs. in crore)

Q2FY18 YoY (%)
NII 440 10.9
NPA (%) 4.13 49
Provisions 226 73
Net Profit (adjusted) 93.4 [24.6]
***NPA change is bps
View

Accumulate

Reco. Price

147

Last updated on

06-Oct-2017


Karnataka Bank reported its Q2FY18 results today. NII for the quarter increased by 10.9% yoy to Rs.440 crore vs Rs.397 crore in previous year corresponding quarter. This was largely due to almost flat growth of 0.9% yoy in interest earned to Rs.1318 crore in Q2FY18 vs Rs.1306 crore in Q2FY17.

In terms of asset quality GNPA’s for the quarter rose by 28% yoy to Rs.  1715 crore in Q2FY18 vs Rs.1344 crore. As percentage to total advances GNPA’s for the quarter rose by 49 bps to 4.13% in Q2FY18 vs 2.63% in previous year corresponding quarter. NNPA’s for the quarter also advanced by 41 bps to 3.04% to in Q2FY18.

Provisions for the quarter jumped 73% yoy to Rs.226 crore in Q2FY18 vs Rs.130.5 crore in Q2FY17. This led to 24.6% decline in net profit for the quarter to Rs.93.4 crore in Q2FY18 vs Rs.123 crore in Q2FY17.

Further, advances for the quarter rose by 12% to Rs.41127 crore and deposits edged up to 7% yoy to Rs.56558 crore. Also, capital adequacy of the bank looks improved as CAR Basel III ratio stood at 12.46% in Q2FY18 vs 11.19% in Q2FY17.


Technical View:

Karnataka Bank Ltd is currently trading at Rs. 163.25, up by 10.15 points or 6.63% from its previous closing of Rs. 153.10 on the BSE.
The scrip opened at Rs. 154 and has touched a high and low of Rs. 165.35 and Rs. 149.90 respectively. So far 1,61,63,719(NSE+BSE) shares were traded on the counter. The stock is currently trading below its 100 DMA.

BSE 159.00 3 (1.92%)
NSE 159.05 2.95 (1.89%)

***Note: This is a NSE Chart

 

Advertisements

  • Save upto Rs.2.67 lakh with Pradhan Mantri Awas Yojana ...Know more
  • Now Save Rs.3150 on your Demat Account ...Click here
  • Now get IIFL Personal Loan in just 8* hours...APPLY NOW!
  • Get the most detailed result analysis on the web - Real Fast!
  • Actionable & Award-Winning Research on 500 Listed Indian Companies.