Canara Bank Q2FY24 result: Net profit jumps 42% to Rs 3606 cr; NPA down 27%
The Canara Bank reported a jump of 42.79 per cent in its standalone net profit in the quarter ended September 30 to Rs 3,606.14 crore, as compared to Rs 2,525.47 crore in the same quarter last year. As compared to Rs 3,534.84 crore in Q1FY24, the net profit was up 2.01 per cent.
The net interest income (NII) for Q2FY24 came in at Rs 26,837.68 crore, compared to Rs 20,106.92 crore year-on-year (Y-o-Y). This is an increase of 33.47 per cent. On a quarter-on-quarter (q-o-q) basis, the NII was up 7.33 per cent. It stood at Rs 25,004.07 crore in Q1FY24.
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The gross non-performing assets (GNPA) for Q2FY24 came in at Rs 43,955.59 crore, as compared to Rs 52,485.14 crore Y-o-Y. This is a fall of 16.25 per cent. On a Q-o-Q basis, the GNPA was down 3.87 per cent. It was Rs 45,727.37 crore in Q1FY24.
The net NPA for Q2FY24 came in at Rs 12,554 crore, as compared to Rs 17,286.13 crore Y-o-Y. This is a fall of 27.37 per cent. On a Q-o-Q basis, the NNPA was down 6.74 per cent. It was Rs 13,461.43 crore in Q1FY24.
At 1:17 pm, the Canara Bank stock was trading at Rs 356.7.
First Published: Oct 26 2023 | 1:26 PM IST