Canara Bank reported a 9.9% decline in fourth-quarter net profit as operating profit fell from a year earlier, while asset quality improved sequentially.
Net profit fell to Rs 4,506 crore in the January-March quarter from Rs 5,003 crore a year earlier. Net interest income rose 3.9% year-on-year to Rs 9,808 crore from Rs 9,442 crore, the bank announced the quarterly earnings in an exchange filing.
Operating profit declined 18.4% to Rs 6,757 crore compared with Rs 8,284 crore in the year-ago period.
Asset Quality
Gross non-performing assets stood at 1.84% against 2.08% in the previous quarter, while net non-performing assets eased to 0.43% from 0.45% quarter-on-quarter.
Provisions dropped to Rs 992 crore from Rs 1,832 crore a year earlier and Rs 2,414 crore in the December quarter.
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