Karnataka Bank Limited (NSE: KTKBANK) crash: Private sector Karnataka Bank has released the results for the December quarter. Despite the growth in profit of the bank during this period, the shares were extremely dispersed.
On the fourth day of trading in this week (Thursday) the share dropped by 0.16 percent, to a level of 244.10.
On the 20th of January, Karnataka Bank shares had touched its 52-week high at 286.35.
What Were The Results Of The Quarter?
The bank’s profits increased by 10 percent, reaching Rs 331 crore. The bank earlier made profits of 301 crore in the previous quarter of the fiscal year 2022-23.
The bank’s profit grew to Rs 2,439 crore during the period ending in December 2023 from the 2,055 crore earned in the same quarter one year before.
Its net NPA that the company has, as well as its proportion was 1.55 percent in the quarter that ended the previous fiscal year, which was 1.66 percent in the previous quarter last year.
The net interest earned during the same time frame decreased 0.86 percent over the year before to 827.6 crore. The company saw a decline in asset quality during the first quarter.
Changes In Management
Karnataka Bank has also made modifications to its management. It has also been appointed Harish Hasan Vishweshwar the Additional Director.
The appointment will take effect starting on February 1st, 2024. The appointment is dependent on shareholder approval.
This means there 12 directors are who sit on the banking board. Of these, 9 directors are independent.
What Did The Bank’s MD Have To Say?
The bank’s CEO and MD Srikrishnan H said his bank is working to transform itself to remain relevant and has also launched a variety of new products.
The bank has made improvements to its techno platforms as well as internal processes.
Srikrishnan stated that during the past quarter, they widened their acquisition and offer within the company and also through collaborations with NBFC/Fintech.
About Karnataka Bank Limited
Karnataka Bank Limited is an Indian-based company. It provides a wide range of banking and financial services.
It is a part of four segments: Treasury, Retail Banking, Corporate Banking, and Other Banking Operations.
Products and Services: Personal, Agriculture, Business, Digital Banking, NRI Priority Banking, and Payments.
Bank Services for Personal: Cards and savings accounts, loans, insurance, investment services, and various other products.
Loan Services: home loans, personal loans, car loans, education loans, loans against properties as well as gold-based loans.
Bank Services for Business: Term loans and working capital finance along with business financing products.
Additional Services: Life Insurance, Mutual Funds, General Insurance, Demat Account, Co-branded Credit Cards, and Trading Account.
The total operating revenue of the company is 7220.23 crores, and capital invested in equity is the amount of 312.35 crores.
Fundamental Analysis of Karnataka Bank Limited
| Market Cap | ₹ 8,535 Cr. |
| Current Price | ₹ 245.90 |
| 52-wk High | ₹287 |
| 52-wk Low | ₹ 124.50 |
| Stock P/E | 6.16 |
| Book Value | ₹ 263 |
| Dividend | 2.03 % |
| ROCE | 5.86 % |
| ROE | 15.4 % |
| Face Value | ₹ 10.0 |
| P/B Value | 0.90 |
| OPM | 63.6 % |
| EPS | ₹ 43.3 |
| Debt | ₹ 88,931 Cr. |
| Debt to Equity | 10.8 |
Karnataka Bank Limited Share Price Target 2024 To 2030
| Year | 1st Target | 2nd Target |
| 2024 | ₹255 | ₹279 |
| 2025 | ₹305 | ₹328 |
| 2026 | ₹330 | ₹345 |
| 2027 | ₹451 | ₹460 |
| 2028 | ₹480 | ₹509 |
| 2029 | ₹522 | ₹545 |
| 2030 | ₹580 | ₹612 |
Karnataka Bank Limited Shareholding Pattern
| FII Holding | |
| Dec 2022 | 19.75% |
| Mar 2023 | 20.30% |
| June 2023 | 21.03% |
| Sept 2023 | 22.67% |
| Dec 2023 | 19.03% |
| DII Holding | |
| Dec 2022 | 5.43% |
| Mar 2023 | 5.74% |
| June 2023 | 6.00% |
| Sept 2023 | 8.60% |
| Dec 2023 | 17.69% |
| Public Holding | |
| Dec 2022 | 74.80% |
| Mar 2023 | 73.95% |
| June 2023 | 72.95% |
| Sept 2023 | 68.71% |
| Dec 2023 | 63.26% |
Karnataka Bank Limited Share: Last 5 Years’ Financial Condition
To gain a better understanding of how the market is performing, let’s look at the outlook of this share in the previous years.
However, investors should be aware of the risks and the market conditions before making any investment decision.
Last 5 Years’ Sales:
| 2019 | ₹ 5,906 Cr |
| 2020 | ₹ 6,475 Cr |
| 2021 | ₹ 6,232 Cr |
| 2022 | ₹ 6,222 Cr |
| 2023 | ₹ 6,222 Cr |
Last 5 Years’ Net Profit:
| 2019 | ₹ 477 Cr |
| 2020 | ₹ 432 Cr |
| 2021 | ₹ 483 Cr |
| 2022 | ₹ 509 Cr |
| 2023 | ₹ 1,386 Cr |
Last 10 Years’ Profit Growth:
| 10 Years: | 13% |
| 5 Years: | 29% |
| 3 Years: | 40% |
| Current Year: | 45% |
Last 10 years’ Return on Equity (ROE):
| 10 Years: | 10% |
| 5 Years: | 10% |
| 3 Years: | 10% |
| Last Year: | 15% |
Sales Growth Over 10 Years:
| 10 Years: | 7% |
| 5 Years: | 6% |
| 3 Years: | 4% |
| Current Year: | 18% |
Conclusion
This article is a complete guide about Karnataka Bank Limited Share.
These information and forecasts are based on our analysis, research, company fundamentals and history, experiences, and various technical analyses.
Also, We have talked in detail about the share’s future prospects and growth potential.
Hopefully, these informations will help you in your further investment.
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Also Read: Don’t Sell Before ₹3200; Long-term Share Will Double; Impressive Earnings
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