Canara Bank Q2 net profit down 32% YoY to Rs 357 crore
NII down 7.7% at Rs 2,447 crore.
By ETMarkets.com | Updated:
NEW DELHI: Public sector lender Canara Bank on Wednesday beat Street estimates to post a net profit of Rs 357 crore for the September quarter.
The bank had reported a net profit of Rs 528.86 crore for the corresponding quarter of last financial year and Rs 228.95 crore for the previous quarter, it said in a statement.
The domestic lender, however, clocked a rise in gross non-performing assets for the quarter at 9.81 per cent compared with 9.71 per cent in the June quarter.
Net non-performing assets remained stable on a sequential basis at 6.69 per cent. At 02:15 pm; the Canara Bank stock was trading 0.8 per cent lower at Rs 320.90.
The bank had reported a net profit of Rs 528.86 crore for the corresponding quarter of last financial year and Rs 228.95 crore for the previous quarter, it said in a statement.
The domestic lender, however, clocked a rise in gross non-performing assets for the quarter at 9.81 per cent compared with 9.71 per cent in the June quarter.
Net non-performing assets remained stable on a sequential basis at 6.69 per cent. At 02:15 pm; the Canara Bank stock was trading 0.8 per cent lower at Rs 320.90.
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