Canara Bank's net profit for second quarter of fiscal year 2027 rose 8.4% year-on-year, according to an exchange filing on Wednesday. The bank posted a net profit of Rs 5,175 crore compared to Rs 4,774 crore in the year-ago period.
Net Interest Income, the difference between interest earned and interest paid, rose 20% to Rs 11,004 crore versus Rs 9,141 crore. Meanwhile, other income went down 18.2% to Rs 5,772 crore versus Rs 7,054 crore in the year.
Gross non-performing asset declined to 1.33%, from 1.57% in the previous quarter, while Net NPA remained steady at 0.3%, compared to 0.36% in Q1 of the current fiscal.
Net interest margin expanded to 2.55% from 2.52% in the preceding quarter. Provisions came in at at Rs 1,782 crore,compared to Rs 2,354 crore in the year-ago period and Rs 2,080 crore in Q1. Fresh slippages rose 3.5% to Rs 1,844 crore.
Canara Bank Q2 FY27 (Standalone, YoY)
- Net profit up 8.4% to Rs 5,175 crore versus Rs 4,774 crore.
- NII up 20% to Rs 11,004 crore versus Rs 9,141 crore.
- Other income down 18.2% to Rs 5,772 crore versus Rs 7,054 crore.
- NIM at 2.55% versus 2.52% (QoQ).
- Gross NPA at 1.33% versus 1.57% (QoQ).
- Net NPA at 0.3% versus 0.36% (QoQ).
- Fresh slippages up 3.5% to Rs 1,844 crore (QoQ).
- Provisions at Rs 1,782 crore versus Rs 2,354 crore. (YoY)
- Provisions at Rs 1,782 crore versus Rs 2,080 crore. (QoQ)
Canara Bank Share Price
Canara Bank shares rose as much as 5.15% to hit an intraday high of Rs 126.40 per share on Wednesday after the public sector lender announced its Q2 results.
At 12:23 pm, Canara Bank shares were trading 3.87% higher at Rs 124.85 per share. In comparison, BSE Sensex was trading 0.15% higher at 73,136 levels.
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