Karnataka Bank posts 60.7 pc jump in Q3 net profit

Mangaluru/New Delhi: Private sector lender Karnataka Bank Friday reported a 60.7 per cent jump in its net profit at Rs 140.41 crore for the third quarter ending December 31, 2018, mainly on account of higher interest income.

The Mangalore-headquartered bank had reported a net profit of Rs 87.38 crore in the year-ago period, the bank said in stock exchange filing.

As per the filing, bank’s net interest income was Rs 487.95 crore during the September-December quarter of the current fiscal as against Rs 451.48 crore in the year-ago quarter.

The Gross Non-Performing Asset (GNPA) of the bank rose to 4.45 per cent of assets from 3.96 per cent in the year-ago period.

Similarly, the net NPA too increased to 3 per cent from 2.85 per cent during September-December 2017.

Karnataka Bank’s scrip was trading at Rs 116.10 on BSE, up 0.74 per cent.