*Karnataka Bank Ltd.* | *CMP* Rs. 71 | *M Cap* Rs. 2192 Cr | *52 W H/L* 76/42
(Nirmal Bang Retail Research)
*Result is declining* Asset quality disappoints with restructured loans increasing to 8.0% vs QoQ 5.2%
Net Interest Income came at Rs. 637 Cr vs YoY Rs. 575 Cr, QoQ Rs. 575 Cr
Non Interest Income came at Rs. 171 Cr vs YoY Rs. 330 Cr, QoQ Rs. 236 Cr
PBP came at Rs. 390 Cr vs YoY Rs. 500 Cr, QoQ Rs. 414 Cr
Provisions came at Rs. 243 Cr vs YoY Rs. 322 Cr, QoQ Rs. 368 Cr
Adj. PAT came at Rs. 126 Cr vs YoY Rs. 119 Cr, QoQ Rs. 106 Cr
Gross NPA came at Rs. 2501 Cr vs QoQ Rs. 2549 Cr at 4.5% vs QoQ 4.82%
Net NPA came at Rs. 1546 Cr vs QoQ Rs. 1553 Cr at 2.84% vs QoQ 3%
Slippages came at Rs. 445 Cr vs QoQ Rs. 414 Cr with slippage ratio of 3.27% vs QoQ 3.2%
O/s Restructured book stood at Rs. 4353.5 Cr vs QoQ Rs. 2685 Cr at 8.0% vs QoQ 5.2%
Quarter EPS is Rs. 4
Share is trading at P/E of 8.8x FY23E EPS & 0.4x trailing P/Adj. BV