Canara Bank Q1 net profit gone up by 82%

Canara Bank Q1 net profit gone up by 82%State-owned Canara Bank has announced its Q1 financial results for the fiscal year 2010. The Bank has managed to post a net profit of Rs 1,013.37 crore for the quarter that ended in 30th June, 2010. This net profit figure has grown up by 82% in this quarter as compared to the same quarter in the last fiscal.

The net profit for the same quarter last year was Rs 555.33 crore for the bank. This has been informed by Canara Bank in a filing at the Bombay Stock Exchange. The total income of the bank has also increased in this period of time.

The total income of the company has been reported to be Rs 5,894.85 crore during the April-June quarter of fiscal year 2010-11. It was Rs 5,031.95 crore for the same quarter in the 2009 fiscal.

There has been a hike of 17.15% in the total income of the firm in this quarter this year against same period in last year. Revenue of the Bank has also increased by 40.35% to reach Rs 1,565.49 crore during this period of time.