Canara Bank net profit drops Q1 2011

Canara Bank net profit drops Q1 2011 : Public sector lender Canara Bank today posted 28 per cent decline in net profit The lender had posted a net profit of Rs 1,013.3 crore for the corresponding quarter last fiscal, Canara Bank said in a filing to the Bombay Stock Exchange (BSE).

However, total income of the bank increased by 31 per cent during the period to Rs 7,707.5 crore from Rs 5,894.8 crore in the corresponding year-ago period.

The interest income of the bank rose to Rs 7,180.7 crore during the reporting quarter from Rs 5,160.8 crore in the first quarter of the previous fiscal.

Bangalore-based bank's gross non-performing assets (NPAs) rose to 1.67 per cent during the quarter ended June 30 from 1.46 per cent in the same quarter a year ago. For the latest updates PRESS CTR + D or visit Stock Market news Today

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