/ Canara Bank Tanks, Reports Increase In NPAs ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Thursday, 20 July 2017

Canara Bank stock dipped 4.6% to Rs 353.95 per share as it reported an increase in NPAs during its Q1FY18 earnings call on Wednesday.The gross non-performing assets of the bank jumped 16.4% yoy to Rs 37,657 crore in Q1FY18 versus Rs 32,334 crore in Q1FY17. In terms of percentage to total advances, GNPA’s for the quarter deteriorated to 10.56% vs 9.71% in Q1FY17. While net NPA ratio for the quarter also increased to 7.09% vs 6.69% in Q1FY17.

The interest earned by the bank was flat at Rs 10,195 crore in Q1FY18 versus Rs 10,201 crore in Q1FY17. While interest declined by 5.2% yoy to Rs 7,482 crore.The bank reported 10% yoy rise in net profit to Rs 251 crore in Q1FY18 versus Rs 228 crore in Q1FY17.The stock attracted a traded volume of 41,43,749 shares and a traded value of Rs 14,715.70 per share on NSE.

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