Karnataka Bank Q3 profit up 5 pc at Rs 40 cr
Private lender Karnataka Bank today reported a 5.41 per cent rise in net profit at Rs 38.59 crore for the third quarter ended December 31, 2010.
The bank had a net profit of Rs 36.61 crore during the corresponding quarter of the last fiscal, Karnataka Bank said in a filing to the Bombay Stock Exchange.
It also reported a growth of 13.33 per cent in its total income during the third quarter of the current fiscal at Rs 668.45 crore against Rs 589.81 crore in the year-ago period.
At the end the quarter under review, Karnataka Bank's gross non-performing assets stood at Rs 637.91 crore, an increase of 4.10 per cent from Rs 612.77 crore in the third quarter of 2009-10, it said.
Besides, the board also approved issue price for its rights issue. The bank has fixed the price at Rs 85 including a premium of Rs 75 per share.
