Canara Bank Q2FY25 Results: Public sector Canara Bank today released its results for the second quarter of the financial year 2024-25. Canara Bank said in the information provided to the stock exchange that its net profit increased by 11.3 per cent to Rs 4,015 crore in July-September 2024. While in the second quarter of the last financial year 2023-24, the Net profit of this government bank was Rs 3,606 crore. Apart from this, its total revenue also increased to Rs 34,721 crore during this period, while it was Rs 31,472 crore in the second quarter of the last financial year.
Decrease recorded in net delinquencies on an 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 (NPA) declining to 3.73 per cent of gross debt at the end of September 2024 from 4.76 per cent a year ago. anus. Similarly, net NPLs also decreased from 1.41 percent to 0.99 percent annually.
Strong rise in Banco Canara shares
Investors seem quite satisfied with Canara Bank’s results and are buying shares in a big way. At 2.20 pm today, Canara Bank shares were trading at Rs 103.65, up Rs 3.00 (2.98%). Let us tell you that the bank’s stock, which closed at Rs 100.65 on Monday, opened at Rs 101.65 today. During today’s trading, Canara Bank share price rose from an intraday low of Rs 99.80 to an intraday high of Rs 103.85.
Bank Stocks Trade Well Below 52-Week High
However, Canara Bank’s share price is still well below its 52-week high. The 52-week high of Canara Bank stock is Rs 129.35 and its 52-week low is Rs 75.60. We tell you that for quite some time there has been a lot of slowdown in Canara Bank shares. The state bank’s shares have given a return of 35.80 percent in the last one year. According to BSE data, the current market capitalization of Canara Bank is Rs 93,881.24 crore.
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