Karnataka Bank Q4 net profit up 14.83% at Rs 31.36 cr
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The bank reported standalone net profit of Rs 31.36 crore for the quarter ended March 31, 2021 as compared to Rs 27.31 crore in the same period last year, registering a year-on-yearĸgrowthĸof 14.83 per cent. Interest income of the bank declined by 13.53 per cent at Rs 1417.49 crore for the quarter ended March 31, 2021 as against Rs 1639.21 crore in the corresponding period last year.
During the January-March quarter, total income dipped moderately by 13.89 per cent to Rs 1,790.70 crore from Rs 2,079.58 crore in the year ago period. Meanwhile, operating expenses dropped by 16.65 per cent to Rs 1,407.01 crore from Rs 1,688.04 crore in the same period last year. Operating profit slipped 2.00 per cent to Rs 383.69 crore from Rs. 391.54 crore.
Provisions and Contingencies slipped by 4.12 per cent at Rs 341.83 crore from Rs 356.50 crore a year ago. NII, the difference between interest earned on loans and interest paid on deposits, slipped by 13.26 per cent at Rs 459.14 crore versus Rs 529.30 crore in the year ago period. Non-interest income dipped 15.25 per cent year-on-year to Rs 373.21 crore. On the asset side, gross non- performing assets (NPAs)ĸroseĸto 4.91 per cent of the gross advances as at the end of March 31, 2021 from a level of 4.82 per cent year earlier. Its net NPAs or bad loans tooĸincreasedĸto 3.18 per cent of net advances on March 31, 2021 from 3.08 per cent a year ago.
