Karnataka Bank posts net profit of Rs 140.41 crore for Q3 of FY 18-19

  • | Friday | 11th January, 2019

Deposits rose to Rs 65,141 crore from Rs 57,771 crore, y-o-y growth of 12.76%. Bank has clocked a business turnover of Rs 1,17,102 crore as on December 31, registering a y-o-y growth of 14.67%. MANGALURU: Powered by a strong and consistent all round growth, Karnataka Bank has posted a net profit of Rs 140.41 crore for the third quarter of current fiscal against Rs 87.38 crore for the corresponding period of last year, registering an y-o-y growth of 60.69%. For the nine months period ended December 2018, the bank posted net profit of Rs 415.51 crore as against Rs 314.61 crore for the corresponding period of last year with a growth rate of 32.07%.Operating profit during third quarter of the current year is Rs 400.37 crore as against Rs 321.90 crore during the corresponding period of the previous year, registering a growth of 24.38%. Advances rose to Rs 51,961 crore from Rs 44,354 crore.Announcing results at the bank’s head quarters here, Mahabaleshwara M S , managing director and CEO said, “The third quarter results are on expected lines.

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