Karnataka Bank tumbles 4% as Q1 numbers disappoint investors
The bank on Saturday announced its quarterly results, reporting a 10 per cent rise in net profit at Rs 134 crore.
By ETMarkets.com | Updated:
NEW DELHI: Shares of Karnataka Bank tumbled over 4 per cent on Monday as the March quarter numbers reported by the bank disappointed investors.
The bank on Saturday announced its quarterly results, reporting a 10 per cent rise in net profit at Rs 134 crore, compared with Rs 122 crore last year. The net interest income (NII) rose 16 per cent year-to Rs 424 crore.
Following the announcement, the stock fell 4.38 per cent to end the session at Rs 158.54 on BSE.
The current & savings accounts ( CASA) deposits improved by 2.42 percentage points on year-on-year basis.
The net non-performing assets ( NPA) constitute 3.2 per cent of net advances, ET reported.
The bank’s operating profit increased from Rs 262 crore to Rs 310 crore year-on-year, recording a growth of 18 per cent.
The bank on Saturday announced its quarterly results, reporting a 10 per cent rise in net profit at Rs 134 crore, compared with Rs 122 crore last year. The net interest income (NII) rose 16 per cent year-to Rs 424 crore.
Following the announcement, the stock fell 4.38 per cent to end the session at Rs 158.54 on BSE.
The current & savings accounts ( CASA) deposits improved by 2.42 percentage points on year-on-year basis.
The net non-performing assets ( NPA) constitute 3.2 per cent of net advances, ET reported.
The bank’s operating profit increased from Rs 262 crore to Rs 310 crore year-on-year, recording a growth of 18 per cent.
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