Karnataka Bank Q3 net profit up 27.5%

Karnataka Bank Q3 net profit up 27.5%

Karnataka Bank Q3 net profit up 27.5%

Mumbai: IndusInd Bank on Thursday posted a mixed set of numbers when the private sector lender reported December quarter net profit in line with expectations but witnessed a marginal rise in bad loans.

A Bloomberg poll of experts projected IndusInd Bank to be around Rs 943 crore in Q3FY18.

Net interest income (NII), or the core income a bank earns by giving loans, increased 20.04% to Rs1,894.81 crore versus Rs1,578.42 crore previous year.

Leonardo DiCaprio Joins Quentin Tarantino's Manson Movie
Tarantino has been on a kick recently of creating films set in the past, with his own very bloody twist and tone added to them. And just to make people salivate at the idea of this movie, producers also reportedly want Tom Cruise to star.

Gross non-performing assets (NPAs) advanced 54.25% to Rs1,498.70 crore at the end of the December quarter from Rs971.62 crore in the same quarter a year ago.

IndusInd Bank reported its quarterly results which were in-line with street estimates for Q3FY18.The bank's asset quality weakened while profitability improved on a quarterly basis.

Managing director and chief executive Ramesh Sobti said the bank saw a surge in demand for term loans, which is indicative of a turnaround in the corporate sector. Compared with the second quarter of FY18, gross NPAs rose by eight basis points.

Indian Army Chief: 'We Have to Be Prepared' Amid Chinese 'Pressure'
The Army chief said that the forces need to update weapons and technology from time to time. The Chinese are still there in North Doklam, but the equipment has gone back.

However, provision and contingencies of the bank rose to Rs 196.40 crore in the December quarter compared to Rs 100.60 crore in the same period a year earlier. The bank's capital adequacy remained strong for Q3FY18 at 15.83 per cent compared to 15.31 in the previous year's corresponding quarter.

On BFIL, IndusInd mentioned that the scheme is subject to the approval of the Reserve Bank of India (RBI), the Competition Commission of India (CCI), the Sebi, the respective shareholders of the bank and BFIL and lastly the National Company Law Tribunal (NCLT).

On the BSE, 1.02 lakh shares were traded on the counter so far as against the average daily volumes of 1.36 lakh shares in the past two weeks.

CSX Corp. (CSX), Delta Air Lines, Inc. (DAL) — Hot Trending Stocks
It increased, as 69 investors sold DAL shares while 247 reduced holdings. 92 funds opened positions while 271 raised stakes. Dupont Mngmt Corporation has 0.43% invested in Applied Materials, Inc. 197,777 were reported by Bnp Paribas Arbitrage Sa.

Related news