Canara Bank shares slipped over 4% on Monday after the bank reported a 12.3% rise in net profit for the December 2024 quarter. The lender posted a net profit of Rs 4104 crore in Q3 against Rs 3656 crore in the December 2023 quarter. Operating profit climbed 15.15% to Rs 7,837 crore in Q3 against Rs 6,806 crore in the December 2023 quarter.
The banking stock slipped 4% to Rs 92.35 in the current session. Market cap of Canara Bank stood at Rs 84,311 crore on BSE. Total 16.27 lakh shares changed hands amounting to a turnover of Rs 15.54 crore.
Net interest income fell 2.85% to Rs 9149 crore in the December 2024 against Rs 9417 crore on a year on year basis.
Gross NPA ratio slipped to 3.34% in Q3 against 4.39% in the December 2023 quarter. Net NPA ratio of the bank fell to 0.89% on a year-on-year basis from 1.32% in December 2023 quarter.
Provision Coverage Ratio (PCR) of the bank in Q3 rose to 91.26% in the December 2024 quarter against 89.01% in December 2023 quarter.
Capital to Risk (Weighted) Assets Ratio (CRAR) came at 16.44% as at December 2024. Out of which CET1 is 11.97%, Tier-I is 14.55% and Tier-II is 1.89%, the lender said.