Canara Bank net profit up 17% in Q1FY20

Net interest income decreased 16.54% to Rs3,240.61cr from Rs3,882.9cr in the corresponding period of last year.

Jul 24, 2019 10:07 IST India Infoline News Service

Canara Bank
Canara Bank said its net profit in the June quarter rose 17% yoy at R329cr in Q1 compared with Rs281.49cr in the year-ago period.

Net interest income decreased 16.54% yoy to Rs3,240.61cr from Rs3,882.9cr in the corresponding period of last year.

Gross NPAs stood at 11.7% in the June quarter compared with 11.9% in the March quarter and 13% in the year-ago period, the bank said in the filing.

Provisions during the quarter fell 26.46% to Rs1,899.13cr as against Rs2,582.30cr in the year-ago quarter.

Canara Bank ended at Rs245.80 down by Rs10.45 or 4.08% from its previous closing of Rs256.25 on the BSE.

The scrip opened at Rs256.05 and has touched a high and low of Rs257.50 and Rs243.75 respectively.

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