Mangaluru: Karnataka Bank has posted a net profit of Rs 146.4 Crore for the third quarter of the current financial year, with a year-on-year growth rate (YOY) of 8.2%, due to RS 135.4 Crore’s net income obtained during Quarter in accordance with the previous year.
The Board approved the financial results for the quarter and nine months ended December 31, 2021, on Friday.
Asset quality also increased significantly.
Dirty NPA has declined 39 bps to 4.1% from 4.5%, compared to the previous sequential quarter.
In the absolute term, GNPA decreased by Rs 170.6 Crore to Rs 2,330.5 Crore from Rs 2,501.1 Crore in the previous quarter.
TNN.
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