Canara Bank net up 26 per cent at Rs241 crore in April-June 2007-08

Our Banking Bureau
26 July 2007

Mumbai: The Canara Bank has reported a net profit of Rs241 crore for April-June 2007-08, up 26 per cent from Rs191 crore in the corresponding period of the previous fiscal.

Operating profit for the first quarter of the current fiscal rose to Rs612 crore compared to Rs575 crore during the corresponding previous quarter.

Buoyed by a strong 43 per cent growth in the core interest income, the bank's total income grew over 36 per cent to Rs3,760 crore compared to Rs2,755 crore for first quarter of previous year.

Non-interest income for the quarter amounted to Rs380 crore, up 57 per cent as against Rs 243 crore for the same quarter a year ago.

Earnings Per Share (EPS) improved from Rs18.64 to Rs23.48 while book value rose to Rs203.52 from Rs176.11 for the corresponding previous quarter.