Moneycontrol

Budget 2021

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Moneycontrol

Budget 2021

Associate Partners:

  • SMCSamsungVolvo
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Karnataka Bank Q3 profit rises 10% to Rs 135 crore

The Mangalore-headquartered bank had reported a net profit of Rs 123.14 crore in the year-ago period, it said in a regulatory filing.

January 12, 2021 / 09:05 PM IST
 
 
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Private sector lender Karnataka Bank on Tuesday reported a 10 percent increase in net profit at Rs 135.38 crore for the December quarter on account of a decline in bad loans.

The Mangalore-headquartered bank had reported a net profit of Rs 123.14 crore in the year-ago period, it said in a regulatory filing.

However, total income of the bank declined to Rs 1,868.62 crore from Rs 1,993.68 crore in the same quarter a year ago.

The gross non-performing assets (NPAs) of the bank eased to 3.16 percent of assets from 4.99 percent in the year-ago period.

Similarly, net NPA ratio declined to 1.74 percent from 3.75 percent during September-December period of previous fiscal.

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Provisions (other than tax) and contingencies fell to Rs 214.18 crore from Rs 314.70 crore in the third quarter of the previous fiscal.
PTI
first published: Jan 12, 2021 09:04 pm

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