Karnataka Bank Q2 results: Net profit drops 20% to Rs 330 crore
Net NPAs or bad loans declined to 1.36 per cent as against 1.72 per cent in the year-ago period.
Karnataka Bank on Thursday reported a 20 per cent decline in its net profit to Rs 330 crore in the second quarter ended September. The lender had posted a net profit of Rs 412 crore in the year-ago period.
Total income in the second quarter of the current fiscal rose to Rs 2,276 crore from Rs 2,031 crore in the same period a year ago, Karnataka Bank said in a regulatory filing. The net interest income (NII) of the bank improved to Rs 822 crore as against Rs 802 crore in September 2022.
The bank's asset quality showed marginal decline as gross non-performing assets (NPAs) rose to 3.47 per cent of gross advances at the end of the September quarter from 3.36 a year ago.
However, net NPAs or bad loans declined to 1.36 per cent as against 1.72 per cent in the year-ago period.
Catch the latest stock market updates here. For all other news related to business, politics, tech, sports, and auto, visit Zeebiz.com.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Power of Compounding: How many years will it take to reach Rs 3 crore corpus if your monthly SIP is Rs 4,000, Rs 5,000, or Rs 6,000
IRCTC Dividend 2024: Railway PSU announces 200% interim dividend - Check record date and other details
Power of Compounding: Salary Rs 25,000 per month; is it possible to create over Rs 2.60 crore corpus; understand it through calculations
Reduce Home Loan EMI vs Reduce Tenure: Rs 75 lakh, 25-year loan; which option can save Rs 25 lakh and 64 months and how? Know here
New Year Pick by Anil Singhvi: This smallcap stock can offer up to 75% return in long term - Check targets
PSU Oil Stocks: Here's what brokerage suggests on these 2 largecap, 1 midcap scrips - Buy, Sell or Hold?
10:42 PM IST