Canara Bank Q3 profit zooms 50 pct

Canara Bank reported a 50 pct jump in net profit to Rs 1,052.58 crore for the third quarter.

State-run Canara Bank reported a 50 per cent jump in net profit to Rs 1,052.58 crore for the third quarter ended December 31,2009.

The bank had a net profit of Rs 701.50 crore during October-December quarter last financial year.

Total income of the public-sector lender also rose to Rs 5,469.10 crore during December quarter of the current fiscal from Rs 5,382.90 crore in the corresponding period a year ago,Canara Bank said in a filing to the Bombay Stock Exchange.

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The bank’s earning from interest during the quarter rose to Rs 4,687.81 crore from Rs 4,625.44 crore in the year ago quarter.

For the nine-month period ended December 31,the Bank registered a net profit of Rs 2,518.43 crore,up 86 per cent compared to Rs 1,353.61 crore of the same period last fiscal.

Shares of Canara Bank were quoting at Rs 368.50,down 1.06 per cent in the afternoon trade on the BSE.

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