Karnataka Bank, today, announced its results for the quarter ending September 30th 2016. The Bank registered a net profit of Rs. 123.82 crore in the second quarter of 2016-17 as compared to the profit of Rs. 102.25 crore in the corresponding period of the previous financial year, recording a growth of 21.09 per cent.
On the grounds of strong Q2 result, Karnataka Bank share price went as high as 126.40, up by almost 6 per cent on NSE today.
Provisions (other than tax) and contingencies stood at Rs. 130.55 crore during the second quarter of 2016-17 as against Rs. 35.07 crore in the corresponding period of 2015-16.
The net interest income (NII) of the bank was valued at Rs. 397.25 crore during the period as compared to Rs. 306.89 crore in the corresponding quarter last financial year.
Meanwhile Karnataka Bank share price closed at Rs. 122.50, up by 4.97 per cent as compared to the 1.31 per cent slip in Nifty. Over seventy lakh shares were traded over the NSE trading counter today.
The other income of the bank went up to Rs. 189.70 crore in the quarter under review as against Rs. 121.01 crore in the second quarter of the last financial year.
The gross NPA (non-performing asset) and net NPA of the bank stood at 3.64 per cent from 3.18 per cent and 2.63 per cent as compared to 1.96 per cent in the September quarter last financial year, respectively.
The bank notified BSE on Wednesday that the financial results of the bank were taken on record by the board of directors of the bank at its meeting on November 9.
Karnataka Bank is the top 500 performing stock picked by Dynamic Levels for the quarter from among 1700 listed stocks. For the details on the levels of support and resistance of Karnataka Bank, visit Karnataka Bank share price history page of Dynamic Levels website.
No comments:
Post a Comment