Canara Bank, a financial conglomerate in India, reported a fall in its consolidated net profit for the fiscal year, on lower net interest income.
The Bangalore-based bank posted fiscal year consolidated net profit of Rs.3,341.69 crore or Rs.75.43 per share, compared with Rs.4,034.19 crore or Rs.98.01 per share last year. Net profit and earnings per shares dropped by 17 percent and 23 percent, respectively.
Net interest income during the year fell by one percent to Rs.7,656.17 crore from the Rs.7,761.97 crore reported a year-ago, while non-interest income rose by ten percent to Rs.3,104.51 crore from the Rs.2,833.25 crore in 2011.
Total consolidated income amounted to Rs.33,920.15 crore, compared with Rs.25,834.14 crore in the prior-year, reflecting a 31 percent growth.
income from domestic operations for the year under review was Rs.33,394.96 crore, while that from foreign operations was Rs.525.19 crore.
The operating profit, before provisions and contingencies, for the fiscal year stood at Rs.5,941.80 crore, compared with Rs.5,973.14 crore in the prior-year quarter, reflecting one percent drop.
As on March 31 this year, consolidated deposits totaled Rs.326,894 crore, up by 11 percent from the Rs.293,258 core last year, while advance grew by ten percent to Rs.232,729 crore from the Rs.211,449 crore as at the end of March 31 last year.
At the BSE, Canara Bank shares are being trading at Rs.385.45, down 1.70 percent from the previous close.
For comments and feedback: editorial@rttnews.com