Karnataka Bank today reported 15.59 percent increase in its net profit to Rs 102.25 crore for the second quarter ended September, 2015. The company's profit stood at Rs 88.46 core in the July-September quarter of last fiscal. "The operating profit also showed marginal growth of 4.21 percent and improved to Rs 169.46 crore from Rs 162.62 crore (Q2 of 2014-15)," the bank said in a regulatory filing.
The gross NPAs of the company declined to Rs 1,043.67 crore, as against Rs 1,060.88 crore as of September 2014-15, it added. "This constituted 3.18 percent as against 3.53 percent as of September, 2014 and thus GNPAs reduced by 35 basis points," the bank said. The net NPAs also declined by 41 basis points to 1.96 percent in the quarter under review, from 2.37 percent in the year-ago period.
Karnataka Bank's shares closed 4.04 percent up at Rs 128.80 apiece on the BSE today.
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