CITY UNION BANK - First Quarter Results - Q1 FY 2013 - Total Income up 36% YoY; NPT UP 26.28% YoY

CITY UNION BANK LTD

FIRST QUARTER RESULTS

Q1 FY 2013

CITY UNION BANK has declared good results for the First Quarter ending June,2012.

HIGH LIGHTS

Total Income for Q1 FY 13 stands at Rs.   566.90 Cr; up by 5.51% from Q4 FY 12 (Rs.537.32 Cr); and up by 35.94% from Q1 FY 2012 (Rs.417.02 Cr).

Total Expenditure for Q1 FY 13 stands at Rs.452.75 Cr; up by 7.01% from Q4 FY 12 (Rs.423.09 Cr); and up by 45.74% from Q1 FY 2012 (Rs.310.65 Cr).

Profit before Interest, Dep. & Taxes for Q1 FY 13 stands at Rs.114.15  Cr; up by -0.07    % from Q4 FY 12 (Rs.114.23 Cr); and up by  7.32% from Q1 FY 2012 (Rs.106.37 Cr).

Net Profit       for Q1 FY 13 stands at Rs.73.89 Cr; up by     2.65% from Q4 FY 12 (Rs.71.98 Cr); and up by     26.28% from Q1 FY2012 (Rs.58.51 Cr).

Diluted EPS  for Q1 FY 13 stands at Rs.1.79;compared to Rs.1.75 in Q4 FY 12; and Rs.1.43.

OTHER DETAILS

N. Kamakodi, Managing Director and CEO of CUB said the bank had fixed the rights issue size at Rs. 250 crore, and had submitted the proposal to the Securities and Exchange Board of India.

The net interest margin was 3.18 per cent for the quarter under reference. Mr. Kamokodi said he was hopeful of maintaining the net interest margin in the current quarter.

Total deposits of the bank rose by 25.23 per cent to Rs. 17,062 crore as on June 30, 2012, from Rs. 13,624 crore as on June 30, 2011. Advances went up by 33.17 per cent to Rs. 12,773 crore from Rs. 9,591 crore.

Total business registered a rise of 29 per cent at Rs. 29,835 crore against Rs. 23215 crore.

The gross NPA (non-performing assets) level declined to 1.07 per cent from 1.22 per cent, and the net NPA to 0.50 per cent from 0.51 per cent. The provision coverage ratio as on June 30, 2012, stood at 75 per cent.

RESULTS  TABLE

Indicating financials for Q1 FY 13; QoQ % difference compared to Q4 FY 12; Q4 FY 12 financials, YoY % dif and Q1 FY 12 financials under various heads.

% of Net NPA stands low at 0.5% in Q1 FY 13; compared to 0.44% in Q4 FY 12 and 0.51% in Q1 FY 12. Provisions have also come down well.

Return on Assets   is very Good at 1.62%. Overall, the Performance of the Bank is very Good.

city union bank	30-Jun-12	QoQ % dif	31-Mar-12	YoY % dif	30-Jun-11
Total Income	56690.4	5.51	53731.75	35.94	41701.98
Total Expenditure	45275.33	7.01	42308.97	45.74	31065.45
Profit before Interest, Dep. & Taxes	11415.07	-0.07	11422.78	7.32	10636.53
Net Profit	7388.93	2.65	7198.02	26.28	5851.19
Diluted EPS	1.79	2.29	1.75	25.17	1.43
Interest on Advances	41531.15	5.92	39211.71	37.86	30125.94
Income on Investments	8816.38	5.38	8365.89	27.79	6899.26
Income on Balances With RBI	73.54	124.28	32.79	-16.82	88.41
Interest Earned	50421.07	5.9	47610.39	35.86	37113.61
Other Income	6269.33	2.42	6121.36	36.64	4588.37
Total Income	56690.4	5.51	53731.75	35.94	41701.98
Interest Expended	36627	7.9	33945.28	45.87	25109.52
Employees Cost	3823.15	1.44	3768.74	30.83	2922.23
Other Operating Expenses	4825.18	5.01	4594.95	59.05	3033.7
Operating Expenses	8648.33	3.4	8363.69	45.21	5955.93
Total Expdr(excl.provisions)	45275.33	7.01	42308.97	45.74	31065.45
Operating Profit	11415.07	-0.07	11422.78	7.32	10636.53
Provisions	1776.14	-39.89	2954.76	-10.54	1985.34
Profit before tax	9638.93	13.83	8468.02	11.42	8651.19
Tax Expense	2250	77.17	1270	-19.64	2800
Net Profit	7388.93	2.65	7198.02	26.28	5851.19
Face Value  (Rs )	1	0	1	0	1
Paid-up Equity	4082.13	0	4082.13	0.37	4067.15
Capital Adequacy Ratio	12.01	-4.46	12.57	10.9	10.83
Basic EPS	1.81	2.26	1.77	25.69	1.44
Diluted EPS	1.79	2.29	1.75	25.17	1.43
Gross/Net NPA	6360.55	17.7	5404.1	30.13	4888.03
% of Gross/Net NPA	0.5	13.64	0.44	-1.96	0.51
Return on Assets	-		1.62		1.57
Public Shareholding (%)	100	0	100	0	100

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CITY UNION BANK - QTRLY RESULTS - Q3 FY 2012 - 3rd Q/E DEC,2011 - TOTAL INCOME UP 40%; NPT UP 25% YoY

City Union Bank Limited

NSE Symbol        CUB

CITY UNION BANK  has declared reasonably GOOD RESULTS  for the third quarter ended Dec, 2011.

Interest on Advances stands at Rs.360.47 Cr in Q3 FY 12  - up by  7.69% from Q2 FY 12; Up by  19.65% from q1 FY 12; and up by  45.78% from Q3 FY 11.

Income on Investments stands at Rs.76.7 Cr  in Q3 FY 12  – up by 3.35% from q2 FY 12; up by 11.17% from Q1 FY 12; and up by 20.09% from Q3 FY 11.

Interest Earned stands at Rs.438.57 Cr in Q3 FY 12 – up by  6.72% from Q2 FY 12; up by  18.17% from Q1 FY 12; and up by  40.13% from Q3 FY 11.

Other Income       stands at Rs.50.76 cr – up by  2.99% from Q2 FY 12;up by 10.62% from q1 FY 12;  and up by 39.75% in Q3 FY 11.

Total Income        stands at Rs.489.33 Cr -  up by 6.32% from Q2 FY 12; up by 17.34% from Q1 FY 12; and up by 40.09% from Q3 FY 11.

Interest Expended stands at Rs.315.74 Cr – up by 8.6% from Q2 FY 12; up by 25.75% from q1 Fy 12; and up by  51.64% from Q3 FY 11.

Net Intt Income     stands at Rs.122.83 Cr – up by  2.16% from Q2 FY 12; and up by  2.32% from Q1 FY 12; and up by  17.26% from Q3 FY 11.

Total Expdr(Excl.prov) stands at Rs.384.39 Cr – up by  7.16% from Q2 FY 12; up by  23.74% from Q1 FY 12; and up by  48.24% from Q3 FY 11.

Operating Profit stands at Rs.104.94 Cr – up by  3.36% from QW2 FY 12; down by  -1.34% from Q1 Fy 12; and up by  16.61% from Q3 FY 11.

Provisions  stands at Rs.25.65 cr – up by  193.1% from Q2 FY 12; up by  29.2% from Q1 FY 12; and up by  137.71% from Q3 FY 11.

Profit  before tax stands at Rs.79.29 Cr – down by  -14.54% from Q2 FY 12; down by  -8.35% from Q1 Fy 12; and up by  0.11% from Q3 FY11.

Tax Expense stands at Rs.7.05 Cr – down by  -53.77% from Q2 FY 12; down by  -74.8% from Q1 Fy 12; and down by  -67.21% from Q3 Fy 11.

Net Profit  stands at Rs.72.24 Cr – down by  -6.82% from Q2 FY 12;  up by 23.46% from Q1 FY 12; and up by  25.19% from Q3 FY 11.

Face Value of the share is Rs.1

Capital Adequacy Ratio      is Rs.12.35

% of Gross/Net NPA stands at  0.51% (0.42 in Q2 FY 12; 0.51 in Q1 FY 12; and  0.53 in Q3 FY 11)

Return on Assets stands at Rs.1.71 in Q3 FY 12.

Basic EPS stands at Rs.1.77 in Q3 FY 12; Rs.1.91 in Q2 FY 12; Rs.1.44 in Q1 FY 12; and 1.43 in Q3 FY 11. The annual EPS may be around Rs.6.89.

The current Market price is Rs.43.40  While the 52 week high price  is Rs.50.50 and the 52 week low price  is Rs.34.85.

The PE Ratio is 6.3.

RESULTS TABLE

city union bank	31-Dec-11	30-Sep-11	%dif1	30-Jun-11	%dif2	31-Dec-10	%dif3
Interest on Advances	36046.96	33472.7	7.69	30125.94	19.65	24726.31	45.78
Income on Investments	7669.93	7421.24	3.35	6899.26	11.17	6386.58	20.09
Income on Balances With RBI	140.28	202.25	-30.64	88.41	58.67	184.03	-23.77
Interest Earned	43857.17	41096.19	6.72	37113.61	18.17	31296.92	40.13
Other Income	5075.61	4928.1	2.99	4588.37	10.62	3631.89	39.75
Total Income	48932.78	46024.29	6.32	41701.98	17.34	34928.81	40.09
Interest Expended	31574.2	29073.29	8.6	25109.52	25.75	20822.23	51.64
Net Intt Income	12282.97	12022.9	2.16	12004.09	2.32	10474.69	17.26
Employees Cost	2835.31	2704.74	4.83	2922.23	-2.97	2459.66	15.27
Other Oprtng Expenses	4029.61	4093.95	-1.57	3033.7	32.83	2647.88	52.18
Oprtng Expenses	6864.92	6798.69	0.97	5955.93	15.26	5107.54	34.41
Total Expdr(Excl.prov)	38439.12	35871.98	7.16	31065.45	23.74	25929.77	48.24
Operating Profit	10493.66	10152.31	3.36	10636.53	-1.34	8999.04	16.61
Provisions	2565	875	193.1	1985.34	29.2	1079.04	137.71
Profit  before tax	7928.66	9277.31	-14.54	8651.19	-8.35	7920	0.11
Tax Expense	705	1525	-53.77	2800	-74.8	2150	-67.21
Net Profit	7223.66	7752.31	-6.82	5851.19	23.46	5770	25.19
Face Value(Rs.)	1	1	0	1	0	1	0
Paid-up Equity	4073.55	4067.15	0.16	4067.15	0.16	4035.83	0.93
Capital Adequacy Ratio	12.35	11.73	5.29	10.83	14.04	11.32	9.1
Basic EPS	1.77	1.91	-7.33	1.44	22.92	1.43	23.78
Diluted EPS	1.76	1.89	-6.88	1.43	23.08	1.42	23.94
Gross/Net NPA	5607.53	4370.33	28.31	4888.03	14.72	4487.58	24.96
% of Gross/Net NPA	0.51	0.42	21.43	0.51	0	0.53	-3.77
Return on Assets	1.71	1.93	-11.4	1.57	8.92	1.71	0
Public holding (%)	100	100	0	100	0	100	0

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