Karnataka Bank Q4 net profit up 30% at Rs 138 crore

Private sector Karnataka Bank has reported a rise of about 30% in net profit at Rs 138.37 crore for the last quarter ended on March 31, 2017.

It had posted a net profit of Rs 106.79 crore during January-March period of 2015-16.

Total income during March quarter rose to Rs 1,606.19 crore in 2016-17, from Rs 1,447.68 crore a year ago, the bank said in a regulatory filing.

For full fiscal ended March 2017, bank's net profit increased to Rs 452.56 crore, up 9%, from Rs 415.29 crore in 2015-16.

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Income in the entire fiscal rose to Rs 5,994.74 crore, from Rs 5,535.07 crore.

On asset front, net non-performing assets (NPAs) were 2.64% of the net advances at the end of March 2017, slightly up from 2.35% year ago.

Gross NPAs or bad loans rose to 4.21% as a percentage of gross advances made by the end of fiscal, from 3.44% year ago.

Due to a restricted level of bank's bad assets, there was only a small rise in provisioning and contingencies allocation to Rs 160.40 crore for the quarter, against Rs 112.50 crore year ago.

Board of the bank has declared a dividend of Rs 4 per share for 2016-17, Karnataka Bank said.