City Union Bank Ltd's Q3FY19 standalone net profit rises 15.1% yoy to Rs178.1cr: In-line with Estimates

The bank’s standalone NII in the quarter stood at Rs417.70cr, up 14.4% yoy and 4.94% qoq.

Jan 28, 2019 07:01 IST India Infoline Research Team

City Union Bank Ltd Q3FY19

Standalone Results Q3FY19: (in Rs cr)

Q3FY19 YoY (%)
NII 417.70 14.4
GNPA (%) 2.9 6
Provisions 78.80 [8.0]
Net Profit (adjusted) 178.10 15.1
***GNPA change is bps on qoq
City Union Bank's net interest income (NII) for Q3FY19 came in at Rs417.7cr, a growth of 14.4% yoy. The bank has reported a net profit of Rs178cr, up 15.1% yoy as against Rs155cr reported last year, and also in line with consensus estimates. Its GNPA for the third quarter ended December 2018 stood at 2.91% against 2.85% qoq, an increase of 6bps qoq. NNPA for the quarter was up 5bps to 1.74%.
  • Provisions for the quarter declined 8% yoy to Rs78.8cr.




Technical View:

City Union Bank Ltd share price is currently at Rs187.40, down 1.5 points, or 0.79%, from its previous close of Rs188.90 on the BSE. The scrip opened at Rs189.50 and has touched a high and low of Rs190.25 and Rs185, respectively. So far, 8,18,040 (NSE+BSE) shares were traded on the counter. The stock is currently trading below its 50-DMA.

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