Karnataka Bank zooms on reporting over 2-fold jump in Q3 net profit

The Karnataka Bank is currently trading at Rs. 146.55, up by 8.65 points or 6.27% from its previous closing of Rs. 137.90 on the BSE.

karnataka bank trades in green on the bourses
Karnataka Bank

The scrip opened at Rs. 146.05 and has touched a high and low of Rs. 151.65 and Rs. 143.95 respectively. So far 385474 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 168.50 on 14-Dec-2022 and a 52 week low of Rs. 55.25 on 31-Mar-2022.

Last one week high and low of the scrip stood at Rs. 151.65 and Rs. 129.35 respectively. The current market cap of the company is Rs. 4575.00 crore.

Institutions and Non-Institutions held 25.19% and 74.82% stake in the bank.

Karnataka Bank has reported results for third quarter ended December 31, 2022. (Q3FY23)

The bank has reported over 2-fold jump in its net profit at Rs 300.68 crore for Q3FY23 as compared to Rs 146.57 crore for the corresponding quarter previous year. Total income of the bank increased by 16.68% to Rs 2055.31 crore for the quarter under review as compared to Rs 1761.55 crore for the same quarter in the previous year.

Karnataka Bank operates as a private sector bank. Its products and services include current account, demand, time, cumulative, cash certificates, insurance linked savings bank deposits, resident foreign currency accounts and senior citizens deposit schemes.

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