Karnataka Bank reports 29% fall in Q3 net profit
Karnataka Bank has reported results for third quarter ended December 31, 2016.
The Bank has reported 29.30% fall in its net profit at Rs 68.52 crore for the quarter under review as compared to Rs 96.91 crore for the same quarter in the previous year. However, total income of the Bank has increased 6.40% at Rs 1457.52 crore for Q3FY17 as compared to Rs 1369.83 crore for the corresponding quarter previous year.
The Bank’s gross NPA for the October-December quarter of the current fiscal increased to 4.30%, as compared to 3.56% in the same quarter of the previous year. Besides, Bank’s Net NPA stood at 2.99% in Q3FY17.
Tehcnical levels for Karantaka Bank
Support at 110.00 and resistance at 118.00
Break and sustain below 110.00 will take it to 107---104 and then to 100 mark in days to come else could test its resistance level of 118.00
Looks positive only if closes above 118.00
