Shares of Canara Bank today soared nearly 8 per cent after the company reported a 11.87 per cent rise in net profit for the first quarter ended June 30.
The stock surged 7.74 per cent to close at Rs 278.95 on the BSE. During the day, it zoomed 8.92 per cent to Rs 282.
On the NSE, shares of the company jumped 7.70 per cent to settle at Rs 278.90.
Public sector lender Canara Bank yesterday reported a 11.87 per cent rise in net profit to Rs 281.49 crore in the first quarter ended June 30.
The bank had registered a net profit of Rs 251.60 crore in the corresponding April-June period of 2017-18.
Total income of the lender rose to Rs 13,192.46 crore in the June quarter from Rs 12,304.10 crore in same period a year ago, Canara Bank said in a regulatory filing.
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In asset quality terms, the gross non-performing assets (NPAs) increased to 11.05 per cent of gross advances at the end of June 2018, as against 10.56 per cent as of June 30, 2017.
Net NPA, however, came down to 6.91 per cent from 7.09 per cent.
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