Karnataka Bank Q2 net profit rises 15.6% to Rs 102.25 cr

Karnataka Bank today reported 15.59 per cent increase in its net profit to Rs 102.25 crore for the second quarter ended September, 2015.
The company's profit stood at Rs 88.46 core in the July-September quarter of last fiscal.
"The operating profit also showed marginal growth of 4.21 per cent and improved to Rs 169.46 crore from Rs 162.62 crore (Q2 of 2014-15)," the bank said in a regulatory filing.
The gross NPAs of the company declined to Rs 1,043.67 crore, as against Rs 1,060.88 crore as of September 2014-15, it added.
"This constituted 3.18 per cent as against 3.53 per cent as of September, 2014 and thus GNPAs reduced by 35 basis points," the bank said.

The net NPAs also declined by 41 basis points to 1.96 per cent in the quarter under review, from 2.37 per cent in the year-ago period.
Karnataka Bank's shares closed 4.04 per cent up at Rs 128.80 apiece on the BSE today.