Karnataka Bank on Tuesday reported 10% rise in net profit at ?135 crore for the quarter ending December 2020, as against ?123 crore in the year-ago period.

The lender’s asset quality improved in the quarter with gross NPA at 3.16% as compared to 3.97% in September quarter. Net NPA was at 1.74% as against 2.21% in September quarter.

On Tuesday, at 2:58 pm, the company’s scrip on NSE was trading 6% higher at ?68.10.

Net interest income rose 21% to ?614 crore from ?508 crore in Q3FY20.

“The aggregate provision against the likely impact of Covid-19, including RBI mandated provision, as on 31st December, 2020 is ?148 crore,” the bank said.

News Source: livemint