Time to reset economy

Get App

Time to reset economy

Last Updated : Jan 16, 2020 08:52 PM IST | Source: PTI

Karnataka Bank Q3 profit slips 12% to Rs 123 cr

The gross non-performing asset (NPA) of the bank rose to 4.99 per cent of assets from 4.45 per cent in the year-ago period.

 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Private sector lender Karnataka Bank on January 16 reported a 12 per cent decline in its net profit at Rs 123.14 crore for the third quarter ending December 31, 2019 on account of rise in bad loans. The Mangalore-headquartered bank had reported a net profit of Rs 140.41 crore in the year-ago period, the bank said in regulatory filing.

However, the total income of the bank rose to Rs 2,023.68 crore from Rs 1,815.79 crore in the same quarter a year ago.

The gross non-performing asset (NPA) of the bank rose to 4.99 per cent of assets from 4.45 per cent in the year-ago period.

Close

Similarly, the net NPA too increased to 3.75 per cent from 3 per cent during September-December 2018.

As a result, provisions (other than tax) and contingencies rose to Rs 314.70 crore from Rs 208.99 crore in the third quarter of the previous fiscal.

For All Earnings Related News - Click Here

Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.
First Published on Jan 16, 2020 08:52 pm
Sections
Follow us on