Moneycontrol

Budget 2023Budget 2023

PARTNERS

  • Tata AIA Life Insurance
  • Hafele
  • Motilal Oswal
  • SMC Global Securities Limited
  • SBI Life
  • DSP Mutual Fund
Upcoming Event : LeapToUnicorn - mentoring, networking and fundraising for startups. Register now

Canara Bank Q3 standalone net profit falls 9% to Rs 696 crore

The bank amalgamated Syndicate Bank with itself effective April 1, 2020. The financials as of December 2019, March, June and September 2020 are combined figures of both banks.

January 27, 2021 / 11:27 PM IST
Representative image

Representative image

State-run Canara Bank on Wednesday reported a 9 per cent decline in its standalone net profit to Rs 696 crore on higher provisioning.

The bank amalgamated Syndicate Bank with itself effective April 1, 2020. The financials as of December 2019, March, June and September 2020 are combined figures of both banks, the bank said in its investors presentation. The amalgamated entity had posted a standalone profit after tax of Rs 764 crore in the December quarter of the previous fiscal.

The pre-amalgamation standalone profit in Q3 FY21 stood at Rs 329.62 crore. The bank further reported a consolidated net profit of Rs 739.20 crore in the third quarter ended December of the current fiscal as against Rs 406.43 crore during the year-ago period. However, the consolidated profit of Q3FY21 is not comparable year-on-year.

NAM India Q3 PAT surges 42% at Rs 212 crore; total income rises 11% to Rs 399 crore