Friday , September 24 2021

Karnataka Bank trades in red on reporting 46% fall in Q1 consolidated net profit

The Karnataka Bank is currently trading at Rs. 57.40, down by 1.65 points or 2.79% from its previous closing of Rs. 59.05 on the BSE.

The scrip opened at Rs. 59.15 and has touched a high and low of Rs. 59.30 and Rs. 56.75 respectively. So far 192707 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 73.45 on 04-Mar-2021 and a 52 week low of Rs. 39.50 on 25-Sep-2020.

Last one week high and low of the scrip stood at Rs. 61.45 and Rs. 56.75 respectively. The current market cap of the company is Rs. 1781.28 crore.

The Institutions and Non-Institutions held 15.84% and 84.16%, stake in the bank respectively.

Karnataka Bank has reported results for first quarter ended June 30, 2021.

The bank has reported 45.98% fall in its net profit of Rs 106.08 crore for the quarter under review as against net profit of Rs 196.38 crore for the same quarter in the previous year. Total income of the bank decreased 17.58% at Rs 1759.41 crore for Q1FY22 as compared Rs 2134.63 crore for the corresponding quarter previous year.

On the consolidated basis, the bank has reported 46.07% fall in its net profit of Rs 105.91 crore for the quarter under review as against net profit of Rs 196.38 crore for the same quarter in the previous year. Total income of the bank decreased by 17.58% at Rs 1759.38 crore for Q1FY22 as compared Rs 2134.63 crore for the corresponding quarter previous year.

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