Corp Bank shares jump 13.5% post Q2 earnings

Shares of Corporation Bank today zoomed 13.5 per cent after the company posted 9 per cent rise in net profit for the September quarter.
The scrip soared 13.06 per cent to close at Rs 47.60 on BSE. During the day, it jumped 16 per cent to Rs 48.85.
On NSE, it rallied 13.5 per cent to end at Rs 47.90.
In terms of volume, 9.47 lakh shares of the company were traded on BSE and more than 57 lakh shares changed hands at NSE during the day.
Corporation Bank yesterday posted 9 per cent rise in net profit at Rs 206.28 crore for the July-September quarter of the current fiscal despite rise in provisioning for bad loans.

The state-owned bank had a profit of Rs 188.60 crore during the same period of last financial year.
Its total income rose to Rs 5,750.61 crore during the second quarter of the current fiscal, from Rs 5,434.65 crore in the same period of 2015-16, Corporation Bank said in filing to stock exchanges.
As of September 30, the bank's gross NPAs doubled to 10.81 per cent of gross advances, compared with 5.32 per cent a year ago. Similarly, the net NPAs rose to 6.91 per cent from 3.54 per cent.