New Delhi, Oct 13 (PTI) Private sector lender KarnatakaBank today reported a fall of nearly 25 per cent in net profitat Rs 93.38 crore for the second quarter ended September asbad loans mounted and the provisions to cover those also movedup.
The bank had reported a net profit of Rs 123.82 croreduring the corresponding July-September quarter of theprevious fiscal.
As non-performing assets (NPAs) rose, there was a jump ofover 73 per cent to Rs 225.98 crore in the provisions andcontingencies in the second quarter of the current fiscal fromRs 130.55 crore in the corresponding period of the previousfiscal.
Gross NPAs or bad loans on the books of the bank reached4.13 per cent of the gross advances by the end of September2017 against 3.65 per cent in the same period a year ago.
Net NPAs were 3.04 per cent of net advances, up from 2.63per cent a year earlier.
Total income of the bank in the July-September quarter ofthis fiscal rose by 4.6 per cent to Rs 1,565.75 crore from Rs1,496.07 crore a year ago. PTI KPMSBT.
This is unedited, unformatted feed from the Press Trust of India wire.