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

  • Reservations, along with economic subsidies, must go to get India moving

    A young man, in his early twenties, starts an agitation demanding reservation for the community he represents.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Urs Schoettli

The China story isn’t over yet

China’s financial markets are currently in the eye of a ...

Anuja Sharma

Love yourself to love others

“There are two basic motivating forces: fear and love. When ...

Gautam Gupta

It's a 'blog eat blog' world out there

Let me tell you, fashion journalism has truly taken the ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture