Karnataka Bank share price falls 5% on poor Q3 numbers

Karnataka Bank

Karnataka Bank share price fell more than 5 percent intraday on January 17 after the company reported a poor set of numbers for the quarter ended December 2019.

The bank has reported 12.3 percent fall in its Q3 net profit at Rs 123.1 crore versus Rs 140.4 crore, while its net interest income (NII) was up 4.1 percent at Rs 507.7 crore versus Rs 487.9 crore, YoY.

The bank’s gross non-performing assets rose to 4.99 percent from 4.78 percent, while net NPA was up at 3.75 percent against 3.48 percent, QoQ.

In the absolute term, the gross NPA rose to Rs 2,777.5 crore and net NPA increased to Rs 2,058.4 crore.

At 1108 hours, Karnataka Bank was quoting at Rs 75.35, down Rs 3.10, or 3.95 percent, on the BSE.

News Source:- Moneycontrol

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