Corporation Bank first quarter net profit up by 28%
State-run lender Corporation Bank has declared its first quarter financial results for the fiscal year 2010-11.
According to the report, the bank has registered an impressive 28% net profit rise in the quarter under review. Corporation Bank has posted a net profit of Rs 333.78 crore for the first quarter that ended in 30th June, of the year 2010 which is 28% more than that of the net profit figure of the bank in the similar quarter in the last fiscal.
The company has registered a net profit of Rs 261.25 crore in the same quarter in the previous year. Corporation Bank has informed this fact in a filing at the Bombay Stock Exchange (BSE).
The total income of the company has been reported to be Rs 2,294 crore in the April-June quarter of fiscal year 2010-11.
The Bank's total income was Rs 2,102 crore for the same quarter in the preceding year. There has been a hike of 9% in the total income of the company.