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.

 

 

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Updated Date: Jan 11, 2019 16:49:20 IST

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