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.

EDITORIAL OF THE DAY

  • Trade policies must not ring fence specific industry sectors

    Within days of the government setting a floor price for import of steel products to thwart countries such as China from undercutting local mills, gove

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Arun Kumar Jain

Reframe mindset to achieve excellence

Niels Bohr, the famous quantum physicist on­ce said, “The opposite ...

Kuruvilla Pandikattu

More real than the reality

Virtual reality (VR), a te­chnology that offers an un­imaginably altered ...

Dharmendra Khandal

Urbanisation is costing us our wildlife

The road transport and highways minister Nitin Gadkari aims to ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture