*Karnataka Bank Ltd. -S* | *CMP* Rs. 71 | *M Cap* Rs. 1995 Cr | *52 W H/L* 141/70
(Nirmal Bang Retail Research)
*Result is below expectations*
*Slippage figure awaited*
Net Interest Income came at Rs. 498.7 Cr vs expectation of Rs. 522.5 Cr, YoY Rs. 467.7 Cr, QoQ Rs. 494.6 Cr
Non Interest Income came at Rs. 308.8 Cr vs YoY Rs. 201.2 Cr, QoQ Rs. 244.8 Cr
PBP came at Rs. 413.4 Cr vs expectation of Rs. 376 Cr, YoY Rs. 356.3 Cr, QoQ Rs. 350 Cr
Provisions came at Rs. 262.4 Cr vs YoY Rs. 193.2 Cr, QoQ Rs. 201.1 Cr
Adj. PAT came at Rs. 105.9 Cr vs expectation of Rs. 129.1 Cr, YoY Rs. 111.9 Cr, QoQ Rs. 175.4 Cr
Gross NPA came at Rs. 2594.3 Cr vs QoQ Rs. 2437.5 Cr at 4.78% vs QoQ 4.55%
Net NPA came at Rs. 1863.1 Cr vs QoQ Rs. 1759.8 Cr at 3.48% vs QoQ 3.33%
Quarter EPS is Rs. 3.7
Share is trading at P/E of 3.8x FY20E EPS & 0.5x trailing P/Adj. BV