Monday, 15 May 2017

Karnataka Bank Q4 profit clocks 30% at Rs 138.37 cr

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Mangalore-headquartered private sector lender Karnataka Bank Ltd has reported a significant growth of 29.6 per cent in its standalone net profit at Rs 138.37 crore for the fourth quarter ended March 31, 2017.

The bank had posted a standalone net profit of Rs 106.79 crore in the corresponding quarter of previous fiscal, said Karnataka Bank Ltd in a filing to the BSE.

Further, the total income of the bank grew by 10.9 per cent to Rs 1,606.19 crore in Q4 FY17 from Rs 1,447.68 crore in Q4 FY16. During the quarter, provisions (other than tax) and contingencies grew to Rs 160.40 crore, as against Rs 100.60 crore in previous quarter and from Rs 112.50 crore in corresponding quarter of last fiscal.

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