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E-mail ID will not be published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

  • Those willfully defaulting on loans should be blacklisted by Sebi

    As reported by this newspaper’s Monday edition, the Securities and Exchange Board of India (Sebi) has found merit in the Reserve Bank of India’s s

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 Kumar Jain

Kickstarting technological innovation

One of the key dimensions of global competitiveness is the ...

Kuruvilla Pandikattu SJ

Developing moral, spiritual capacity

Writing in The Huffington Post, Noam Chomsky, professor emeritus, MIT ...

Gautam Gupta

Manufacturing must keep workers’ welfare in mind

It may be early days yet, but the labour reforms ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture