Karnataka Bank Ltd Q2FY18
Standalone Results Q2FY18: (Rs. in crore)
|Net Profit (adjusted)||93.4||[24.6]|
Karnataka Bank reported its Q2FY18 results today. NII for the quarter increased by 10.9% yoy to Rs.440 crore vs Rs.397 crore in previous year corresponding quarter. This was largely due to almost flat growth of 0.9% yoy in interest earned to Rs.1318 crore in Q2FY18 vs Rs.1306 crore in Q2FY17.
In terms of asset quality GNPA’s for the quarter rose by 28% yoy to Rs. 1715 crore in Q2FY18 vs Rs.1344 crore. As percentage to total advances GNPA’s for the quarter rose by 49 bps to 4.13% in Q2FY18 vs 2.63% in previous year corresponding quarter. NNPA’s for the quarter also advanced by 41 bps to 3.04% to in Q2FY18.
Provisions for the quarter jumped 73% yoy to Rs.226 crore in Q2FY18 vs Rs.130.5 crore in Q2FY17. This led to 24.6% decline in net profit for the quarter to Rs.93.4 crore in Q2FY18 vs Rs.123 crore in Q2FY17.
Further, advances for the quarter rose by 12% to Rs.41127 crore and deposits edged up to 7% yoy to Rs.56558 crore. Also, capital adequacy of the bank looks improved as CAR Basel III ratio stood at 12.46% in Q2FY18 vs 11.19% in Q2FY17.
Karnataka Bank Ltd is currently trading at Rs. 163.25, up by 10.15 points or 6.63% from its previous closing of Rs. 153.10 on the BSE.
The scrip opened at Rs. 154 and has touched a high and low of Rs. 165.35 and Rs. 149.90 respectively. So far 1,61,63,719(NSE+BSE) shares were traded on the counter. The stock is currently trading below its 100 DMA.
BSE 158.65 [0.05] ([0.03]%)
NSE 158.35 [0.50] ([0.31]%)
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