Corporation Bank Q3 net dips 25 per cent to Rs 303 crore

Public sector Corporation Bank today reported a 24.62 per cent decline in its net profit at Rs 303.17 crore for the quarter ended December.

The bank had a net profit of Rs 402.21 crore in the October-December quarter of last fiscal year.

Total income of the bank increased to Rs 4,257.84 crore during the three month period of the current fiscal, from Rs 3,776.30 crore in the corresponding period a year ago, Corporation Bank said in a filing to Bombay Stock Exchange.

Interest income of the bank rose 15 per cent to Rs 3,870.38 crore during the third quarter, from Rs 3,362.84 crore in the year-ago period.

The net non-performing assets (NPAs) of the bank increased to 1.63 per cent of the loans at the end of December, from 0.98 per cent in the corresponding period a year ago.

Shares in Corporation Bank were trading at Rs 438.40, down 3.90 per cent from its previous close on BSE.