Canara Bank net profit declines 17%

State-run Canara Bank today posted 17 per cent dip in its consolidated net profit at Rs 3,341.69 crore for 2011-12 fiscal.

For the year ended March 31, 2011, the bank had a net profit of Rs 4,034.19 crore, it said in a filing to the BSE.

During 2011-12, Canara Bank's total income rose by 31 per cent to Rs 33,920.15 crore from Rs 25,834.14 crore in the previous fiscal.

The banks's net interest income fell by one per cent to Rs 7,656.17 crore year-on-year, while non-interest income showed a rise of 10 per cent at Rs 3,104.51 crore.

In the reported year, its operating profit stood at Rs 5,941.80 crore against Rs 5,973.14 crore in the comparable period.

Shares of Canara Bank were trading at Rs 386.15, down 1.52 per cent from its previous close on the BSE.

Source: Financial Express