Canara Bank Q1 Net Profit Up 22% to Rs 4,752 Cr

New Delhi, Jul 24 (PTI) State-owned Canara Bank on Thursday posted a 22 per cent growth in net profit to Rs 4,752 crore during the first quarter of the current financial year.

The Bengaluru-based bank had earned a net profit of Rs 3,905 crore in the same quarter of the previous fiscal year.

The total income rose to Rs 38,063 crore during the June quarter of fiscal year 2025-26, from Rs 34,020 crore in the same quarter of FY25, Canara Bank said in a regulatory filing.

Interest earned by the bank improved to Rs 31,003 crore, as compared to Rs 28,701 crore in the June quarter FY25.

During the period under review, operating profit of the bank increased to Rs 8,554 crore, as compared to Rs 7,616 crore in the same quarter a year ago.

The bank's asset quality showed improvement as gross non-performing assets (NPAs) declined to 2.69 per cent of gross advances at the end of the June quarter, from 4.14 per cent a year ago.

Similarly, net NPAs, or bad loans, declined to 0.63 per cent, as against 1.24 per cent in the year-ago period.

As a result, provisions and contingencies declined to Rs 1,845 crore during the first quarter as compared to Rs 2,171 crore in the same period a year ago.

Provision Coverage Ratio (PCR) improved to 93.17 per cent, from 89.22 per cent.

At the same time, Return on Assets (ROA) improved to 1.14 per cent for June 2025, from 1.05 per cent at June 2024.

Capital adequacy ratio of the bank rose to 16.52 per cent, from 16.38 per cent in the same quarter of FY25.