Canara Bank Q4 PAT down 8% at Rs 829 cr

Public sector lender Canara Bank has reported a lower than expected profit after tax at Rs 829 crore for the fourth quarter of FY12, down 7.8% as compared to Rs 899 crore in a year ago period.

May 10, 2012 / 14:45 IST

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Public sector lender Canara Bank has reported a lower than expected profit after tax at Rs 829 crore for the fourth quarter of FY12, down 7.8% as compared to Rs 899 crore in a year ago period.

Net interest income increased 3.4% to Rs 2,040 crore from Rs 1,973 crore year-on-year.

Analysts on average had expected net interest income at Rs 2,019 crore and profit after tax at Rs 964 crore.

Gross non-performing assets (NPAs) declined at 1.73% for the January-March quarter of 2012 versus 1.81% in the previous quarter. Net NPAs too dropped at 1.46% versus 1.49% during the same period.

Gross NPAs stood at Rs 4,032 crore in the quarter ended March 2012 versus Rs 3,999 crore in the December quarter.

Capital adequacy ratio stood at 13.76%. The bank made provisions of Rs 462 crore.

first published: May 10, 2012 02:43 pm

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