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Shares of Karnataka Bank today surged nearly 5 per cent after the company posted 22 per cent rise in net profit for the quarter ended June 30.
The stock surged 4.81 per cent to settle at Rs 124.25 on BSE. During the day, it soared 7.25 per cent to Rs 127.15
At NSE, shares of the company jumped 4.50 per cent to close at Rs 124.10.
In terms of equity volume, 12.71 lakh shares of the company were traded on BSE and over one crore shares changed hands at NSE during the day.
Karnataka Bank today posted 21.9 per cent rise in net profit to Rs 163.24 crore for the first quarter of 2018-19.
The bank had reported a profit of Rs 133.85 crore in the April-June quarter of 2017-18.
The total income increased to Rs 1,616.44 crore as against Rs 1,547.93 crore a year ago, it said in a BSE filing.
In terms of asset quality, gross non-performing assets (NPAs) or bad loans rose to 4.72 per cent of gross loans as on June 30, 2018 from 4.34 per cent in the year-ago period.
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