News Details
Category : Company
Headline : Corporation Bank posts Q3 net profit of Rs 60.53 cr
Date: 11/02/2019 16:50
The bank reported standalone net profit during the quarter stood at Rs 60.53 crore compared to net loss of Rs 1240.49 crore in the previous year quarter.

Interest income of the bank declined by 12.98 per cent at Rs 3818.10 crore for the quarter ended December 31, 2018 as against Rs 4387.85 crore in the corresponding period last year.

During the October-December quarter, total income dipped moderately by 15.06 per cent to Rs 4,112.32 crore from Rs 4,841.37 crore in the year ago period.

Meanwhile, operating expenses dropped by 15.61 per cent to Rs 3,341.22 crore from Rs 3,959.34 crore in the same period last year.

Operating profit slipped 12.58 per cent to Rs 771.10 crore from Rs. 882.04 crore.

Provisions and Contingencies slipped by 72.88 per cent at Rs 755.12 crore from Rs 2,784.40 crore a year ago.

NII, the difference between interest earned on loans and interest paid on deposits, increased by 3.13 per cent at Rs 1,303.02 crore versus Rs 1,263.47 crore in the year ago period. Non-interest income dipped 35.13 per cent year-on-year to Rs 294.22 crore.

On the asset side, gross non- performing assets (NPAs)ÿroseÿto 17.36 per cent of the gross advances as at the end of December 31, 2018 from a level of 15.92 per cent year earlier. Its net NPAs or bad loans tooÿincreasedÿto 11.47 per cent of net advances on December 31, 2018 from 10.73 per cent a year ago.