CSB Bank Ltd reports net loss of Rs. 59.68 crore in Q4

CSB Bank Ltd. has reported financial results for the period ended March 31, 2020.

Financial Results (Q4 FY19-20) - QoQ Comparison

The company has reported net sales of Rs.475.49 crores during the period ended March 31, 2020 as compared to Rs.439.29 crores during the period ended December 31, 2019.

The company has posted net loss of Rs.(59.68) crores for the period ended March 31, 2020 as against net profit of Rs.28.14 crores for the period ended December 31, 2019.

The company has reported EPS of Rs.(3.44) for the period ended March 31, 2020 as compared to Rs.1.63 for the period ended December 31, 2019.

Financials	Q4 FY19-20	Q3 FY19-20	% Change
Total Income	₹ 475.49 crs	₹ 439.29 crs	8.24%
Net Profit	₹ (59.68) crs	₹ 28.14 crs	-312.08%
EPS	₹ (3.44)	₹ 1.63	-311.04%

Financial Results (Q4 FY19-20) - YoY Comparison

The company has reported net sales of Rs.475.49 crores during the period ended March 31, 2020 as compared to Rs.399.87 crores during the period ended March 31, 2019.

The company has posted net loss of Rs.(59.68) crores for the period ended March 31, 2020 as against Rs.(150.64) crores for the period ended March 31, 2019.

The company has reported EPS of Rs.(3.44) for the period ended March 31, 2020 as compared to Rs.(17.52) for the period ended March 31, 2019.

Financials	Q4 FY19-20	Q4 FY18-19	% Change
Total Income	₹ 475.49 crs	₹ 399.87 crs	18.91%
Net Profit	₹ (59.68) crs	₹ (150.64) crs	-60.38%
EPS	₹ (3.44)	₹ (17.52)	-80.37%

Financial Results (Year ended FY 2019-20) - YoY Comparison

The company has reported net sales of Rs.1731.50 crores during the 12 months period ended March 31, 2020 as compared to Rs.1483.43 crores during the 12 months period ended March 31, 2019.

The company has posted net profit of Rs.12.72 crores for the 12 months period ended March 31, 2020 as against net loss of Rs.(197.42) crores for the 12 months period ended March 31, 2019.

The company has reported EPS of Rs.0.88 for the 12 months period ended March 31, 2020 as compared to Rs.(23.73) for the 12 months period ended March 31, 2019.

Financials	FY2019-20	FY2018-19	% Change
Total Income	₹ 1731.50 crs	₹ 1483.43 crs	16.72%
Net Profit	₹ 12.72 crs	₹ (197.42) crs	106.44%
EPS	₹ 0.88	₹(23.73)	103.71%

- Gross NPA decreased from 531 Cr as on 31.03.2019 to Rs 409 Cr as on 31.03.2020 - a decrease of 23%. Gross NPA as percentage of advances decreased from 4.9% to 3.5%

- Net NPA decreased from 241 Cr as on 31.03.2019 to Rs 217 Cr as on 31.03.2020 - a decrease of 10%. Net NPA as percentage of advances decreased from 2.3% to 1.9%

- Provision Coverage improves to 80% from 78%

- Capital Adequacy Ratio improves from 16.7% as on 31.03.2019to 22.5% as on 31.03.2020. Leverage Ratio improves from 6.6% as on 31.03.2019 to 8.9% as on 31.03.2020.

- Comfortable Liquidity Position. Liquidity Coverage Ratio at 245% comfortably above the RBI requirement of 100%. Post March, Deposits grew by Rs.430 Cr underlying the stability of franchise even in Covid times.

Speaking about the performance Mr.C VR Rajendran, Managing Director & CEO said "FY 2020 has been a landmark year in the history of the bank as we got listed and have come back to profitability after many years of continuous losses. The profit could be much higher had the bank not opted for the new tax regime. While we had time upto Sep 2020 to decide on the new tax regime, we have, after due analysis found migrating to the new tax rates beneficial in the long run and accordingly preferred to take a hit in FY 2020 itself. FY 2021 is the centenary year for the bank. Several positives can be seen in our working results of FY 2020 and we are on a firm pedestal for future growth. Our main aim would be to carefully build a stable asset base in the current environment of heightened VUCA (Volatility, Uncertainty, Complexity, Ambiguity), while diversifying our funding base, cutting costs and improving upon margins and fee income."

Source : Equity Bulls

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