India's Karnataka Bank shares climb 20% as quarterly profit soars

Karnataka Bank

02/11/2022 04:48

BENGALURU, Nov 2 (Reuters) - Shares of Karnataka Bank
 KBNK.NS  jumped as much as 20% on Wednesday, marking their
biggest percentage gain in over 13 years, after the private
lender reported a more-than-three-fold jump in quarterly profit.
    Net profit soared to 4.12 billion Indian rupees ($49.8
million) in the quarter ended Sept. 30, from 1.26 billion
rupees, a year earlier, the company reported after markets
closed on Tuesday.
 
 ($1 = 82.6850 Indian rupees)
 (Reporting by Praveen Paramasivam in Bengaluru; Editing by
Savio D'Souza)
 ((Praveen.Paramasivam@thomsonreuters.com; https://twitter.com/PraveenR_P
 ; +91 867-525-3569;))