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Karnataka Bank reports 70% surge in Q1 net profit

20 Jul 2012 Evaluate

Karnataka Bank has reported results for first quarter ended June 30, 2012.

The bank has registered a jump of 67.59% in its net profit at Rs 83.43 crore for the quarter under review as compared to Rs 49.78 crore for the same quarter in the previous year. Total income of the bank has increased by 28.58% at Rs 988.66 crore for Q1FY13 as compared Rs 768.89 crore for the corresponding quarter previous year.

Gross non-performing assets (NPAs) improved to 3.31% in the April-June quarter as against 3.68% in the same quarter previous year while net NPAs increased to 1.99%.

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