Home >Companies >Company Results >Karnataka Bank Q3 net rises 10% to ₹135 cr; stock surges 6%

Karnataka Bank Q3 net rises 10% to ₹135 cr; stock surges 6%

1 min read . Updated: 12 Jan 2021, 03:00 PM IST Edited By J. Jagannath

Net interest income rose 21% to ₹614 crore from ₹508 crore in Q3FY20.

Karnataka Bank on Tuesday reported 10% rise in net profit at ₹135 crore for the quarter ending December 2020, as against ₹123 crore in the year-ago period.

The lender's asset quality improved in the quarter with gross NPA at 3.16% as compared to 3.97% in September quarter. Net NPA was at 1.74% as against 2.21% in September quarter.

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On Tuesday, at 2:58 pm, the company's scrip on NSE was trading 6% higher at ₹68.10.

Net interest income rose 21% to ₹614 crore from ₹508 crore in Q3FY20.

"The aggregate provision against the likely impact of Covid-19, including RBI mandated provision, as on 31st December, 2020 is ₹148 crore," the bank said.

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