Decline recorded in net NPA on annual basis
Canara Bank Q2 FY25 Results: Public sector Canara Bank today released the results for the second quarter of the financial year 2024-25. Canara Bank said in the information given to the stock market exchange that their net profit increased by 11.3 percent to Rs 4015 crore in July-September 2024. Whereas in the second quarter of the last financial year 2023-24, the net profit of this government bank was Rs 3606 crore. Apart from this, their total income also increased to Rs 34,721 crore during this period, whereas it was Rs 31,472 crore in the second quarter of the last financial year.
Decline recorded in net NPA on annual basis
Canara Bank earned interest income of Rs 29,740 crore in the second quarter of the current financial year, compared to Rs 26,838 crore in the same period last year. The bank also saw improvement on the asset quality front with gross non-performing assets (NPAs) declining to 3.73 per cent of gross debt by the end of September 2024 from 4.76 per cent a year ago. Similarly, net NPA also declined from 1.41 percent to 0.99 percent on an annual basis.
Strong rise in Canara Bank shares
Investors seem quite satisfied with the results of Canara Bank and are buying shares extensively. As of 02.20 pm today, Canara Bank shares were trading at Rs 103.65, up by Rs 3.00 (2.98%). Let us tell you that the bank’s shares, which closed at Rs 100.65 on Monday, opened today at Rs 101.65. During trading today, Canara Bank share price rose from intraday low of Rs 99.80 to intraday high of Rs 103.85.
Bank shares are trading far below their 52 week high
However, the share price of Canara Bank is still far below its 52 week high. Canara Bank shares’ 52 week high is Rs 129.35, its 52 week low is Rs 75.60. Let us tell you that there has been a lot of slowdown in the shares of Canara Bank for quite some time. The shares of the government bank have given a return of 35.80 percent in the last 1 year. According to BSE data, the current market cap of Canara Bank is Rs 93,881.24 crore.
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