May 18, 2012, 05.55 PM | Source: Moneycontrol.com
Private sector lender Karnataka Bank has reported a net profit of Rs 83 crore for the fourth quarter of FY12, down 9% as compared to Rs 91 crore in a year ago period due to high provisions.
Provisions of the bank increased significantly by 97% to Rs 75 crore from Rs 38 crore year-on-year.
Net interest income increased 8.3% year-on-year to Rs 222 crore for the quarter ended March 2012.
Capital adequacy ratio declined at 12.84% in January-March quarter of 2012 versus 13.33% in the corresponding quarter of last fiscal.
Asset quality improved during the quarter. Gross non-performing assets (NPAs) declined at 3.27% versus 4% and net NPAs slipped at 2.11% versus 2.23% quarter-on-quarter.
Gross NPAs went down at Rs 684 crore versus Rs 702 crore and net NPAs moved down at Rs 435 crore versus Rs 438 crore sequentially.
Mitesh Thacker of miteshthacker.com is of the view
Ashwani Gujral of ashwanigujral.com recommends buy
Karnataka Bank, vide its letter dated November 18,
Mitesh Thacker of miteshthacker.com recommends sel
Private sector lender Karnataka Bank's net profit