Canara Bank shares climb over 4 pc after Q2 earnings

File Photo

New Delhi: Shares of Canara Bank on Thursday jumped over 4 per cent after the company reported an 89 per cent rise in its net profit for the second quarter that ended September of this fiscal. The stock climbed 3.58 per cent to settle at Rs 258.90 apiece on the BSE. During the day, it advanced 4.10 per cent to Rs 260.20.

On the NSE, it jumped 4.13 per cent to end at Rs 259.30 apiece. In volume terms, 21.79 lakh shares of the firm were traded on the BSE and over 4.70 crore shares on the NSE during the day. ()

On Thursday, state-owned Canara Bank reported an 89 per cent rise in its net profit to Rs 2,525 crore for the second quarter that ended September of this fiscal. The bank had posted a net profit of Rs 1,333 crore in the same period of the previous fiscal. ()

The total income also rose to Rs 24,932.19 crore during July-September this year against Rs 21,331.49 crore in the same period of 2020-21, the bank said in a regulatory filing. The bank's gross Non-Performing Assets (NPAs) declined to 6.37 per cent of the gross advances as of September 30, 2022, compared to 8.42 per cent at the end of September 2021.

Net NPA too fell to 2.19 per cent from 3.22 per cent at the end of the September 2021 quarter.