Corporation Bank has recorded a 24.62 per cent decline in net profit during the third quarter of 2012-13 fiscal.
The bank has recorded a net profit of Rs 303.17 crore during the third quarter of this fiscal against Rs 402.21 crore in the corresponding period of the previous fiscal.
There was an increase of 48.57 per cent in provisions and contingencies during the period. Provisions (other than tax) and contingencies stood at Rs 406.05 crore (Rs 273.30 crore).
Net interest income stood at Rs 883.39 crore (Rs 861.81 crore), while other income at Rs 386.86 crore (Rs 413.46 crore). Gross NPAs (non-performing assets) stood at 2.18 per cent (1.35 per cent) and net NPAs at 1.63 per cent (0.96 per cent).
The bank recorded a net profit of Rs 1,079.14 crore in the first nine months of 2012-13 fiscal against Rs 1154.78 crore in the corresponding period of the previous fiscal, registering a decline of 6.55 per cent.