Karnataka Bank reports 9% drop in Q3 net profit

Karnataka Bank has reported results for third quarter ended December 31, 2015.

The bank has registered a fall of 9.38% in its net profit after tax at Rs 96.91 crore for the quarter under review as compared to Rs 106.94 crore for the same quarter in the previous year. However, total income of the bank has increased 0.38% at Rs 1369.83 crore for Q3FY16 as compared Rs 1364.69 crore for the corresponding quarter previous year.

Gross non-performing assets (NPAs) increased to 3.56% in the October- December quarter as against 3.44% in the same quarter previous year, while net NPAs stood to 2.41%.