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Home STOCKS Karnataka Bank Q1 effects: Business posts highest-ever quarterly profit of Rs 196...

Karnataka Bank Q1 effects: Business posts highest-ever quarterly profit of Rs 196 crore

Karnataka Bank on Thursday posted its highest at any time quarterly net profit of Rs 196.38 crore for the April-June period of time. It had reported a net profit of Rs 175.42 crore in the corresponding quarter final year.
The scrip closed 3.30 for every cent higher at Rs 47, even though the benchmark BSE Sensex settled .39 per cent down at 36,594.
Web interest profits superior 8.19 for every cent yr-on-year (YoY) to Rs 535.13 crore in Q1FY21. On the other hand, other income improved by 147.15 for every cent YoY to Rs 518.92 crore.
Working profit of the bank greater 94.34 for each cent YoY to Rs 677.04 crore through the quarter beneath assessment. Asset high-quality of Karnataka Bank also improved in Q1FY21.
Gross non-executing assets (NPA) improved to 4.64 for each cent towards 4.82 for each cent in the sequential quarter ended March 31.
The capital adequacy ratio of the bank arrived in at 13.07 for each cent for the June quarter when compared with 12.70 for each cent in the similar quarter last calendar year.
Mahabaleshwara MS, Taking care of Director & CEO, Karnataka Bank stated, “Even although we are not an exception to numerous issues and uncertainties activated by Covid-19 pandemic, this quarter turned out to be a desire quarter on account of all time high quarterly net profit as properly as functioning profit. It was feasible predominantly on account of various expense reduction steps, strong treasury profit and a respectable growth in interest cash flow on account of enhanced interest spread.”

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