Karnataka Bank Q3 profit rises 10 pc to Rs 135 crore
PTI, Jan 12, 2021, 5:08 PM IST
New Delhi: Private sector lender Karnataka Bank on Tuesday reported a 10 per cent increase in net profit at Rs 135.38 crore for the December quarter on account of a decline in bad loans.
The Mangalore-headquartered bank had reported a net profit of Rs 123.14 crore in the year-ago period, it said in a regulatory filing.
However, total income of the bank declined to Rs 1,868.62 crore from Rs 1,993.68 crore in the same quarter a year ago.
The gross non-performing assets (NPAs) of the bank eased to 3.16 per cent of assets from 4.99 per cent in the year-ago period.
Similarly, net NPA ratio declined to 1.74 per cent from 3.75 per cent during September-December period of previous fiscal.
Provisions (other than tax) and contingencies fell to Rs 214.18 crore from Rs 314.70 crore in the third quarter of the previous fiscal.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
India’s active COVID-19 cases drop below 1.78 lakh, 1.60% of total caseload
Home Secy briefs HM Amit Shah on Delhi situation
Varun’s wife, in-laws will not be happy with him acting, jibes Shraddha Srinath
Related Articles More
Government may hike agri credit target to about Rs 19 lakh crore in Budget
Petrol, diesel prices at all-time high
Indian economy estimated to contract by 9.6% in 2020, grow at 7.3% in 2021: UN
RBI refutes reports of withdrawal of old Rs 100, Rs 10, Rs 5 notes
Biden to sign executive orders to promote ‘Made in America’ products