Canara Bank Q2 results: Net profit triples in September quarter, shares fall

Canara Bank has reported strong results for the second quarter on the back of lower provisioning for bad loans, some improvement in asset quality and higher income from other sources. Here is all you need to know.

Canara Bank has reported a net profit of Rs 1,332.6 crore for the second quarter ended September 30. It is a massive rise from the Rs 444.4 crore net profit it had posted in the corresponding period last year.

The state-owned bank said its net profit in the second quarter of the ongoing financial year tripled due to lower provisioning for bad loans, some improvement in asset quality and higher income from other sources.