Karnataka Bank, Gruh Finance slip 4% post Q1 numbers
Share price of Karnataka Bank and Gruh Finance slipped 4 percent intraday Monday on the back of numbers declared by the companies for the quarter ended June 2017 (Q1FY18).
Karnataka Bank has registered 10 percent increase in its Q1 net profit at Rs 133.85 crore versus Rs 121.54 crore, reported in same quarter last year.
The net interest income of the company rose 16 percent at Rs 424.42 crore versus Rs 364.69 crore.
Meanwhile, its net NPA rose to Rs 1229.84 crore versus Rs 911.23 crore (Y-o-Y) and Rs 974.73 crore (Q-o-Q). The gross NPA also increased to Rs 1690.87 crore versus Rs 1,389.4 crore (Y-o-Y) & Rs 1581.6 crore (Q-o-Q).
The company's gross NPA and net NPA stood at 4.34 percent and 3.2 percent respectively.
Gruh Finance has reported 20 percent rise in its Q1 net profit at Rs 72.2 crore versus Rs 60.18 crore.
The company's total income was up 14 percent at Rs 398.12 crore versus Rs 346.34 crore.
Aggregate NPAs of the company was at 0.64 percent of the loan assets as on June 30, 2017 as against 0.56 percent as on June 30 2016 and the net NPAs was at 0.16 percent against 0.27 percent.
At 09:39 hrs Karnataka Bank was quoting at Rs 159.25, down 3.89 percent and GRUH Finance was quoting at Rs 486.70, down 3.16 percent on the BSE.Posted by Rakesh Patil