Karnataka Bank posts net profit of Rs 140.41 crore for Q3 of FY 18-19

MANGALURU: Powered by way of a strong and constant all round enlargement, Karnataka Bank has posted a internet profit of Rs 140.41 crore for the third quarter of present fiscal towards Rs 87.38 crore for the corresponding period of last yr, registering an y-o-y enlargement of 60.69%. For the 9 months period ended December 2018, the bank posted internet profit of Rs 415.51 crore as towards Rs 314.61 crore for the corresponding period of last yr with a enlargement fee of 32.07%.


Operating profit during third quarter of the current yr is Rs 400.37 crore as towards Rs 321.90 crore during the corresponding period of the previous yr, registering a enlargement of 24.38%. Further, for the 9 month period of present monetary yr, the operating profit stood at Rs 1125.58 crore as towards Rs 997.84 crore for the corresponding period of previous yr, thereby registered a enlargement of 12.80%, a bank communiqué here on Friday, said.


The gross NPA is at four.45% as compared to four.66% as of previous quarter of present monetary yr, that is, September 2018. Similarly, the net NPA has been maintained at three% as compared to September 2018. Bank has clocked a trade turnover of Rs 1,17,102 crore as on December 31, registering a y-o-y enlargement of 14.67%. Deposits rose to Rs 65,141 crore from Rs 57,771 crore, y-o-y enlargement of 12.76%. Advances rose to Rs 51,961 crore from Rs 44,354 crore.


Announcing results on the bank’s head quarters here, Mahabaleshwara M S, managing director and CEO mentioned, “The third quarter results are on expected traces. The enlargement fee, asset quality and earnings have shown constant tractions. Bank has been in a position to take care of the consistency with none unfavorable surprises and is determined to further consolidate it going forward.” The Bank will attempt to push for more customer centric services and products within the days ahead, he mentioned.


Karnataka Bank posts net profit of Rs 140.41 crore for Q3 of FY 18-19 Karnataka Bank posts net profit of Rs 140.41 crore for Q3 of FY 18-19 Reviewed by kailash soni on January 11, 2019 Rating: 5
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