Canara Bank Q2 net down 16% at Rs 852 cr

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Canara Bank Q2 net down 16% at Rs 852 cr

BS Reporter / Mumbai 31 Oct 11 | 12:51 PM

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Public sector lender Canara Bank today posted a 15.44% decline in net profit to Rs 852.22 crore for the second quarter ended September 30, 2011.

The bank had posted a net profit of Rs 1,007.88 crore for the July-September period of 2010.

However, total income of the lender rose to Rs 8,442.73 crore during the quarter from Rs 6,077.06 crore in the same period last year, Canara Bank said in a filing to the BSE.

During the first six months of the current fiscal, the net profit of the bank fell by 21.93% to Rs 1,578.07 crore from Rs 2,021.25 in the April-September period of 2010, it said.

The bank's total income during the first half rose to Rs 16,150.32 crore from Rs 11,971.91 crore in the same period last fiscal, it added.

Shares of Canara Bank rose by 1.53% to Rs 467.90 in late afternoon trade on the BSE.