Karnataka Bank Posts 10% Fall in Q1 Profit

Karnataka Bank Posts 10% Fall in Q1 Profit
New Delhi: Karnataka Bank on Friday reported a 10 per cent decline in net profit at Rs 109.34 crore for the April-June quarter of the current fiscal year.

The private sector lender had posted a net profit of Rs 121.63 crore for the fiscal first quarter of 2014-15.

However, the total income of the bank has increased to Rs 1,348.17 crore during the April-June quarter of the current fiscal year, from Rs 1,254.24 crore in the corresponding period a year ago, it said in a filing to the BSE.

Gross non-performing assets (NPAs), as a proportion of advances, decreased to 3.26 per cent in Q1 as against 3.43 per cent in the same period previous fiscal year.

Net NPAs also declined to 2.05 per cent from 2.37 per cent at the end of June 2014.

Shares in Karnataka Bank, on Friday, ended 0.16 per cent higher at Rs 153.85 on the BSE.

 
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