New Delhi: Corporation Bank on Friday reported a 58.21 per cent decline in net profit at Rs. 126.69 crore for the quarter ended December 2013, mainly due to higher provisioning for bad loans.
The state-run lender had a net profit of Rs. 303.17 crore for the corresponding period of the previous fiscal year (FY13), it said in a filing to the BSE.
Total income increased to Rs. 4,947.34 crore during the quarter under review from Rs. 4,257.84 crore in the December quarter of last fiscal year, it said.
Net non-performing assets (NPAs) of the bank rose to 2.15 per cent from 1.63 per cent.
Provisioning for bad loans almost doubled to Rs. 916 crore during the December quarter, from Rs. 406 crore in the same period a year ago.
Shares in Corporation Bank, on Friday, ended at Rs. 250.70 apiece on the BSE, up 0.97 per cent from the previous close.
The state-run lender had a net profit of Rs. 303.17 crore for the corresponding period of the previous fiscal year (FY13), it said in a filing to the BSE.
Total income increased to Rs. 4,947.34 crore during the quarter under review from Rs. 4,257.84 crore in the December quarter of last fiscal year, it said.
Net non-performing assets (NPAs) of the bank rose to 2.15 per cent from 1.63 per cent.
Provisioning for bad loans almost doubled to Rs. 916 crore during the December quarter, from Rs. 406 crore in the same period a year ago.
Shares in Corporation Bank, on Friday, ended at Rs. 250.70 apiece on the BSE, up 0.97 per cent from the previous close.
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