Karnataka Bank Q3 net profit up 27.5%

January 12, 2018

Improvement in asset quality helped Karnataka Bank Ltd to record a growth of 27.52 per cent. The bank registered a net profit of ?87.38 crore in the third quarter of 2017-18 as against a profit of ?68.52 crore in the corresponding period of 2016-17, recording a growth of 27.52 per cent.

Gross NPA (non-performing asset) of the bank stood at 3.97 per cent (4.30 per cent) and net NPA at 2.85 per cent (2.99 per cent) during the period. Gross and NPAs were at ?1,784.31 crore and ?1,262.96 crore, respectively in Q3 of 2017-18 against ?1,560.23 crore and ?1,065.66 crore in third quarter of 2016-17, respectively.

Net interest income of the bank stood at ?451.48 crore during Q3 of 2017-18 against ?376.51 crore in the corresponding period of the previous fiscal. Other income of the bank stood at ?194.62 crore (?133.59 crore) during the period.

Gross NPA (non-performing asset) of the bank stood at 3.97 per cent (4.30 per cent) and net NPA at 2.85 per cent (2.99 per cent) during the period. Karnataka Bank shares were trading higher by 2.52 per cent at Rs. 166.80 on the BSE.


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