Canara Bank on Monday reported a 12.25 percent increase in its standalone net profit to Rs 4,104.20 crore for the third quarter ended on December 31, 2024. The bank had earned a net profit of Rs 3,656.12 crore in the October-December quarter of the previous year.
The total income of the bank increased 11.7 percent to Rs 36,113.77 crore in the third quarter of the current fiscal from Rs 32,333.93 crore in the year-ago period, Canara Bank said in a regulatory filing.
During the quarter, the bank’s interest income rose to Rs 30,311.61 crore from Rs 28,038.83 crore in the same period last fiscal. The bank’s Net Interest Income (NII) declined 2.85 percent to Rs 9,148.57 crore as against Rs 9,417 crore in the same quarter of FY24.
The gross Non-Performing Asset (NPA) moderated to 3.34 percent as against 4.39 percent of the total advances at the end of December 2023. Similarly, the net NPA declined marginally to 0.89 percent as compared to 1.32 per cent at the end of December 2023.
However, provisions and contingencies for the third quarter of FY25 rose to Rs 2,156 crore against Rs 1,028 crore in the same quarter of the previous financial year.
The provisions and contingencies for the third quarter of FY25 rose to Rs 2,398.25 crore against Rs 1,898.91 crore in the same quarter of the previous financial year.
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