Canara Bank Dec quarter Net dips 42 pc to Rs 409 cr

Public sector lender Canara bank today reported a 42.39 per cent decline in net profit at Rs 409.35 crore for the third quarter ended December, mainly due to higher provisioning for bad loans.

The bank had posted a net profit of Rs 710.51 crore in the October-December quarter of 2012-13 fiscal.

Total income of the bank increased to Rs 10,935.29 crore during the quarter, from Rs 9,390.29 crore in the same period a year ago, Canara Bank said in a filing to the BSE.

During the quarter, the bank made bad loan provisioning of Rs 1,051 crore, against Rs 626 crore provisioning made in the corresponding quarter in 2012-13 fiscal.

Shares of Canara Bank were trading at Rs 219.95 apiece, up 1.81 per cent on the BSE.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • India must follow China on its path to the future

    There are many theories, real and imagined, doing the rounds in the national and international media about Barack Obama’s overtures to ‘rebalance

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Arun Nigavekar

Will the adventurous UGC succeed?

The impact of the Modi government on the education sector ...

Zehra Naqvi

The urge to tell stories

One wants to tell a story, like Scheherzade, in order ...

Dharmendra Khandal

Don’t interfere with nature

Just before we celebrated the news of tiger numbers swelling, ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture