Private sector Karnataka Bank has reported a rise of 20 per cent in its net
profit at Rs 111.86 crore in the second quarter ended September 2018 on healthy
interest income and lower provision for bad assets. The bank had reported a net
profit of Rs 93.38 crore in the corresponding July-September quarter of
2017-18.
Total income of the bank increased to Rs
1,653.81 crore in the second quarter of 2018-19, from Rs 1,565.75 crore in the
same period of the preceding fiscal, the bank said in a regulatory filing.
Bank's earnings from interest moved up to Rs
1,452.61 crore during the September quarter as against Rs 1,317.93 crore in the
year-ago period. The provisioning for bad loans and contingencies for the
quarter came down to Rs 193.22 crore as against Rs 225.98 crore.
On asset quality, the net non-performing
assets (NPAs) came down to 3 per cent of the net advances by the end of
September 30, 2018, as against 3.04 per cent in the same period a year earlier.
In value terms, net NPAs stood at Rs 1,497.68
crore as on September 30, 2018, as against Rs 1,246.81 crore as at
end-September 2017.
Gross NPA ratio rose to 4.66 per cent (Rs
2,371.62 crore) against 4.13 per cent (Rs 1,715.70 crore). Provision coverage
ratio as at September 30, 2018 stood at 57.49 per cent (46.94 per cent at
September 2017).
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