Corporation Bank Q3 net rises 16% to Rs 147 cr

Net NPA rises to 3.27% from 2.15% in the year-ago period

Public sector Corporation Bank today reported 16.19% growth in net profit at Rs 147.21 crore for the October-December quarter of the current fiscal.

It had logged net profit of Rs 126.69 crore in the third quarter of the previous fiscal.

The interest income rose to Rs 4,881 crore during the quarter, from Rs 4,609 crore in the year-ago period, Corporation Bank said in a filing to the BSE.

The net Non-Performing Assets (NPAs) of the bank rose to 3.27% at the end of December, from 2.15% in the year-ago period.

Its total income increased to Rs 5,209.54 crore during the third quarter, from Rs 4,947.34 crore in the corresponding period last year.

Shares of Corporation Bank were trading at Rs 61.75, down 4.11% over previous close, on the BSE.