Corp Bank Q2 net jumps 10 fold to Rs 160 cr

Public sector Corporation Bank today reported a 10-fold jump in net profit at Rs 160.50 crore for the second quarter ended September 30, 2014-15.

The bank had a net profit of Rs 15.47 crore in the July- September quarter of the 2013-14 fiscal.

Interest income of the bank rose to Rs 4,940 crore during the quarter, up 11%, from Rs 4,434 crore in the same period last fiscal.

Gross non-performing assets, as a percentage of total advances, stood at 4.45% at the end of September. They were at 3.17% at the end of September 2013, Corporation Bank said in a filing to the BSE.

Its total income in Q2 increased to Rs 5229.05 crore, from Rs 4,773.64 crore in the corresponding quarter last fiscal.

The Corporation Bank scrip closed at Rs 334, down 0.93%, on the BSE.