Karnataka Bank surges on reporting 21% rise in Q4 net profit

Karnataka Bank is currently trading at Rs. 138.75, up by 12.80 points or 10.16% from its previous closing of Rs. 125.95 on the BSE. The scrip opened at Rs. 132.20 and has touched a high and low of Rs. 142.00 and Rs. 128.65 respectively. So far 1415651 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 162.45 on 16-May-2013 and a 52 week low of Rs. 69.10 on 06-Aug-2013. Last one week high and low of the scrip stood at Rs. 132.75 and Rs. 117.75 respectively. The current market cap of the company is Rs. 2581.25 crore. The Institutions and Non-Institutions held 28.74% and 71.26% respectively. The bank has posted a rise of 20.51% in its net profit at Rs 81.21 crore for the quarter ended March 31, 2014 as compared to Rs 67.39 crore for the same quarter in the previous year. Total income of the bank increased by 7.54% at Rs 1172.58 crore for quarter under review as compared to Rs 1090.32 crore for the quarter ended March 31, 2013. For the year ended March 31, 2014, the bank has posted a fall of 10.64% in its net profit at Rs 311.03 crore as compared to Rs 348.08 crore for the same period in the previous year. However, total income of bank increased by 12.79% at Rs 4694.41 crore for year under review as compared to Rs 4161.93 crore for the period ended March 31, 2013.