Karnataka Bank Q1 net down 46% to Rs 106 cr as treasury income dips

Mulls QIP for equity capital raise

Private sector lender Karnataka Bank's net profit fell by 46 per cent to Rs 106.08 crore in the first quarter ended June 2021 (Q1FY22) on a dip in treasury income.

The bank had posted a net profit of Rs 196.38 crore during the same quarter last year (Q1FY21). Sequentially, the bank had booked a profit of Rs 31.36 crore in the quarter ended March 2021 (Q4FY21).

Mahabaleshwara M S, Managing Director & Chief executive of the bank, said the reduction in net profit is mainly on account of decline in treasury gains, which is dependent on yield movements. Its other