Karnataka Bank posts 60.7% jump in Q3 net profit on account of higher interest income

New Delhi: Private sector lender Karnataka Bank Friday reported a 60.7 percent jump in its net profit at Rs 140.41 crore for the third quarter ending 31 December, 2018, mainly on account of higher interest income. The Mangalore-headquartered bank had reported a net profit of Rs 87.38 crore in the year-ago period, the bank said in stock exchange filing. As per the filing, bank’s net interest income was Rs 487.95 crore during the September-December quarter of the current fiscal as against Rs 451.48 crore in the year-ago quarter. The Gross Non-Performing Asset (GNPA) of the bank rose to 4.45 percent of assets from 3.96 percent in the year-ago period. Similarly, the net NPA too increased to 3 percent from 2.85 percent during September-December 2017. Karnataka Bank’s scrip was trading at Rs 116.10 on BSE, up 0.74 percent.     To keep watching India’s No. 1 English Business News Channel – CNBC-TV18, call your Cable or DTH Operator and ask for the Colors Family Pack (inclusive of 24 channels), available for Rs. 35/- per month, or subscribe to the channel for Rs. 4/- per day. To keep watching the Leader in Global Market & Business News – CNBC-TV18 Prime HD, call your Cable or DTH Operator and ask for the Colors Family HD Pack (inclusive of 25 channels), available for Rs. 50/- per month, or subscribe to the channel for Rs. 1/- per day.