Karnataka Bank declared their Q1 FY25 results on July 24, 2024, Today, the private lender saw their share react to the Q1 financials. The share of Karnataka Bank zooms over 3.5 per cent reaching a day high of Rs 235.99 per share on the indian bourses. The price of the counter opened at Rs 229.90 per share.
The private lender's share recored a life high of Rs 286.55 per share on the Indian bourses on Jan 22, 2024.
Q1 Financials
Net profit Q1 FY25
In the first quarter of 2024–25, Karnataka Bank reported a net profit of Rs 400.33 crore, up from Rs 370.70 crore in the same period of the previous fiscal year, or 7.99 per cent.
NII (net interest income)
In the first quarter of 2024–25, the bank's other income was Rs 279.01 crore compared to Rs 323.84 crore in Q1 FY25 and net interest income was Rs 903.36 crore compared to the Rs 814.68 crore in the same quarter in the previous year.
In the first quarter of FY25, the bank's net interest margin was 3.54 per cent compared to 3.68 per cent in Q1 FY24. In the first quarter of FY25, the bank's capital adequacy ratio was 17.64 per cent compared to the corresponding quarter of the previous year, which stood at 17 per cent.
Gross & Net NPA (non-performing assets)
While the bank's gross non-performing assets (NPAs) decreased to 3.54 percent in the first quarter of FY25 compared to 3.68 percent in the same quarter of FY24, net NPAs rose to 1.66 per cent compared to the same quarter in the previous fiscal year which stood at 1.43 per cent.
In the first quarter of 2024–25, provisions (apart from tax) and contingencies decreased to Rs 40.26 crore from Rs 151.57 crore in the corresponding period of previous fiscal year.
