Karnataka Bank stock climbs 7% as NPA falls in Q2 FY18


Shares of Karnataka Bank recovered to hit a one-month high after the bank's asset quality improved in Jul-Sep.

The bank reported its Q2 FY18 results today as NII increased by 10.9% yoy to Rs 440 crore vs Rs 397 crore in previous year corresponding quarter. This was largely due to an almost flat growth of 0.9% YoY in interest earned to Rs 1318 crore in Q2 FY18 vs Rs 1306 crore in Q2 FY17.

Provisions for the quarter jumped 73% YoY to Rs  226 crore in Q2 FY18 vs Rs 130.5 crore in Q2 FY17. This led to 24.6% decline in net profit for the quarter to Rs 93.4 crore in Q2FY18 vs Rs 123 crore in Q2 FY17.

Further, advances for the quarter rose by 12% to Rs 41127 crore and deposits edged up to 7% yoy to Rs 56558 crore. Also, capital adequacy of the bank looks improved as CAR Basel III ratio stood at 12.46% in Q2FY18 vs 11.19% in Q2 FY17.

Karnataka Bank Ltd ended at Rs 163.35, up by Rs 10.25 or 6.69% from its previous closing of Rs 153.1 on the BSE.

The scrip opened at Rs 154 and touched a high and low of Rs 165.35 and Rs 149.9 respectively. The stock traded above its 100 DMA.




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