Karnataka Bank Q1 net profit down 10% at Rs 109 cr

Private sector Karnataka Bank today reported 10 per cent decline in net profit at Rs 109.34 crore for the April-June quarter of the current fiscal.
It had posted Rs 121.63 crore net profit in the first quarter of 2014-15.
However, the total income of the bank has increased to Rs 1,348.17 crore during the April-June quarter of the current fiscal, from Rs 1,254.24 crore in the same period of last fiscal, Karnataka Bank said in a filing to the BSE.
Gross non-performing assets (NPAs), as a proportion of advances, decreased to 3.26 per cent in the first quarter, as against 3.43 per cent in the same period previous fiscal.

Net NPAs also declined to 2.05 per cent from 2.37 per cent at the end of June 2014.
The bank's scrip closed at Rs 153.85, up 0.16 per cent, on the BSE.