Karnataka Bank Ltd Q1FY18
Standalone Results Q1FY18: (Rs. in crore)
|Net Profit (adjusted)||133.80||10.1|
Karnataka Bank Ltd posted its quarterly results. The NII for the quarter increased 16.% yoy to Rs.424 crore vs Rs.356 crore in previous year corresponding quarter. This was due to 5.6% yoy increase interest earned vs marginal increase in interest expended by 1.2% yoy.
In terms of asset quality GNPA’s for the jumped 34.3% yoy to Rs. 1229 crore vs Rs.911 crore in Q1FY17. When compared to advances GNPA’s for the quarter stood at 4.34% vs 3.92% in Q1FY17 a 40 bps increase.
Provisions for the quarter increased 45.9% yoy to Rs. 199 crore vs Rs.136.3 crore in Q1Y17.This led to 10% yoy increase in net profit to Rs.133 crore in Q1FY18 vs Rs121 crore in Q1FY17.
Further, capital position (CAR) for the bank also looks strong at 13.02% in Q1FY18 vs 11.64% in Q1FY17.
Karnataka Bank Ltd ended at Rs. 165.70, up by 0.5 points or 0.3% from its previous closing of Rs. 165.20 on the BSE.
The scrip opened at Rs. 166.25 and touched a high and low of Rs. 167.65 and Rs. 163.50 respectively. A total of 25,62,681(NSE+BSE) shares were traded on the counter. The stock traded above its 50 DMA.
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