Karnataka Bank reports highest-ever quarterly net profit of Rs 196 cr in Q1

Private sector lender Karnataka Bank on Friday said it has clocked its highest-ever quarterly net profit of Rs 196.38 crore in the first quarter ended June, on the back of various cost-cutting measures and healthy core income growth.

The bank had posted a net profit of Rs 175.42 crore during the corresponding period of the previous financial year, which also was its previous high in quarterly profit, it said in a release.

"Karnataka Bank posted an all-time high quarterly net profit of Rs 196.38 crore, during Q1 of 2020-21 as against the previous high of Rs 175.42 crore recorded during Q1 of