Karnataka Bank reports 21% jump in FY’12 net profit

Karnataka Bank, on the standalone basis, reported a fall of 8.43% in its net profit to Rs 83.16 crore for the fourth quarter ended March 31, 2012, against net profit of Rs 90.82 crore for the corresponding period last fiscal. The interest earned by the bank has increased by 30.95% at Rs 868.28 crore during the quarter under review from Rs 663.07 crore in the year-ago period.

For the full year ended March 31, 2012, the bank has reported a surge of 20.62% in its net profit to Rs 246.07 crore for the year under review, against net profit of Rs 204.01 crore for the corresponding period last fiscal. Total income increased by 31.70% at Rs 3112.28 crore during the year under review from Rs 2370.84 crore in the year-ago period.

Meanwhile, the bank has recommended dividend of Rs 3.50 per share for the year ended March 31, 2012.