Karnataka Bank Q3 profit rises 10% to Rs 135 crore

Personal sector lender Karnataka Bank on Tuesday reported a ten per cent enhance in web profit at Rs 135.38 crore for the December quarter on account of a decline in unhealthy loans.

The Mangalore-headquartered financial institution had reported a web revenue of Rs 123.14 crore within the year-ago interval, it mentioned in a regulatory submitting.

Nevertheless, total income of the financial institution declined to Rs 1,868.62 crore from Rs 1,993.68 crore in the identical quarter a yr in the past.

The gross non-performing property (NPAs) of the financial institution eased to three.16 per cent of property from 4.99 per cent within the year-ago interval.

Equally, web NPA ratio declined to 1.74 per cent from 3.75 per cent throughout September-December interval of earlier fiscal.

Provisions (apart from tax) and contingencies fell to Rs 214.18 crore from Rs 314.70 crore within the third quarter of the earlier fiscal.

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