Corporation Bank quarterly net profit up at Rs 355 cr

Total income of the bank in the fourth quarter of 2012-13 rose to Rs 4,635.49 crore,up from Rs 4,009.17 crore in the corresponding period a year ago,it said in a filing to the BSE.

However,for the entire fiscal 2012-13,the net profit of the bank fell to Rs 1,443.24 crore from Rs 1,518.38 crore a year earlier.

Total income of the bank during FY13 stood at Rs 16,954.01 crore,up from Rs 14,524.55 crore in the previous fiscal.

Bank’s net non-performing assets (NPAs) or bad loan increased to 1.19 per cent in the quarter ended March,from 0.87 per cent in the year ago period. Also,gross NPAs during the quarter increased to 1.72 per cent from 1.26 per cent a year earlier.

As on March 31,2013,the deposits of the Mangalore-based bank were at Rs 1.66 lakh crore,while advances stood at Rs 1.18 lakh crore.

Scrips of the bank were trading at Rs 396 apiece in noon trade on the BSE,up 5.03 per cent from the previous close.