Canara bank Q3 results: The December quarter was mixed for the public sector bank Canara Bank. In October-December 2024, the third quarter of the current financial year 2024-25, the bank’s Standelone net profit jumped 12.25 per cent to Rs 4,104.20 crore on a annual basis. Asset quality has also improved and NPA has dropped but provisions and contestants have shown an increase and interest has reduced net income. Talking about the shares, even in the selling environment, there was a slight decline in its shares, but after the results, it slipped. Currently, it is 4.91 per cent decline on BSE at Rs 92.00. It slipped to Rs 91.85 in Intra-Day to Rs 91.85.
Canara Bank Q3 Results: Special things
In the December 2024 quarter, Canara Bank’s Standelone Net Profit jumped 12.25 per cent to Rs 4,104.20 crore on an annual basis. During this period, the total income of the bank also increased from Rs 32,333.93 crore to Rs 36,113.77 crore. The bank has revealed the results in the exchange filing today. Interest income in the December quarter also increased from Rs 28,038.83 crore to Rs 30,311.61 crore on an annual basis. However, Net Interest Income fell 2.85 per cent to Rs 9,148.57 crore during this period.
Talking about asset quality, gross NPA fell from 4.39 per cent to 3.34 per cent during this period and NPA also slipped from 1.32 per cent to 0.89 per cent. However, Provisions and Contegges increased from Rs 1,898.91 crore to Rs 2,398.25 crore during this period.
How was the move of shares in a year?
Canara Bank shares were at Rs 129.35 on 4 June 2024, which was a record high level of about 13 years for this. This boom of shares stopped here and in five months from this high level, it slipped more than 32 per cent to about two weeks ago on 13 January 2025 at Rs 87.75, which is a record low of one year for its shares. At the lower level, the shares were recovered and about 6 percent recovered on the basis of purchasing, but it is still about 28 per cent downside from one year of highs.
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