Tuesday, November 9, 2021

KARURVYSA Q2 PAT up 44 % | Stock Outlook


Karur Vysya Bank Q2 PAT up 44% at Rs165.45cr on 16.2% lower provisions for asset losses at Rs164cr

Karur Vysya Bank Ltd reported -1.04% lower total revenues for the Sep-21 quarter on consolidated basis at Rs1,561cr

Karur Vysya Bank Ltd reported -1.04% lower total revenues for the Sep-21 quarter on consolidated basis at Rs1,561cr. The revenues were lower -0.98% on a sequential basis compared to Rs1,577cr in the Jun-21 quarter.

Revenues were higher in corporate banking while they were lower for treasury and retail banking on a yoy basis. Total crossed Rs119,000cr while advances grew 7% yoy and deposits also grew 7%.

The share of CASA deposits stood at 35%. Net interest income or NII was at Rs680cr and NIMs at 3.74%

Net profits for the Sep-21 quarter were up 44.01% on yoy basis at Rs165.45cr. On a sequential basis, the net profit was up 51.97% compared to the Jun-21 quarter profits of Rs108.87cr.

Profit growth was driven  by a 16.2% lower provisions for asset losses at Rs164cr. Provision coverage ratio improved from 59.84% to 76.28%. NIMS improved 27 bps at 3.74% for the quarter.

KVB reported NPMs of 10.6% in Sep-21 quarter compared to 7.28% in the Sep-20 quarter and 6.91% in the sequential Jun-21 quarter. GNPAs were 7.38%.

Stock Outlook

Hold and accumulate can test  64 - 71 in short term.

Disclaimer- The information on this blog are based on my personal opinion and experience, it should not be considered professional financial investment advice and in no way it should be considered as a tip. We does not take any compensation of any kind whatsoever from any reader, user and company that are mention on this website. We are not SEBI registered financial advisor or analyst.

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