Karnataka Bank Q1 profit rises 22% YoY to Rs 163 crore

NEW DELHI: Karnataka Bankon Thursday reported a 21.9 per cent year-on-year rise in June quarter profit at Rs 163.24 crore compared with Rs 133.85 crore reported for the same quarter last financial year.

Gross NPA for the quarter stood at Rs 2,296.53 crore against Rs 2,376.07 crore reported for March quarter. Gross NPA in percentage terms stood at 4.72 per cent against 4.92 per cent in March quarter.

Net NPA stood at Rs 1,395.97 crore against Rs 1,400.51 crore in March quarter. Net NPA in percentage terms was at 2.92 per cent against 2.96 per cent in March quarter.

Diluted EPS for June quarter came in at Rs 5.78 against Rs 4.74 in the year-ago period.

Provisions (other than tax) and contingencies dropped 144 per cent to Rs 222.06 crore, against Rs 541.75 crore in the March quarter.

Net Interest Income (NII) rose 10.40 per cent to Rs 468.58 crore against Rs 424.42 crore last year.

At 03:23 am, shares of the lender traded 3.67 per cent higher at Rs 122.75 apiece on BSE.

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