Karnataka Bank - Buy on declines.

Recorded a net profit of ₹300 cr in Q3 FY23 as against ₹146 cr reported in the year-ago period, registering a growth of 105%

The operating profit went up 49% and NII went up 34%

NPA came down to 3.28 per cent 4.11% and net NPA was at 1.66% Vs 2.45%

The provision coverage ratio  at 80%. 

Provisions stood at ₹164 cr Vs ₹138 cr

Advances growth of the bank is healthy at 12%

capital adequacy ratio was at 15%

Returns

One year - up by 157%

6 months - up by 37%

1 month - up by 42%

1 week - down by 2%

has notched 106% higher Q3EPS of Rs.9.7 and 119% higher 9M EPS of Rs.26.5, which may lead to FY23 EPS of Rs.37+ Vs 15.5 in FY22

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