Canara Bank's Q3FY25 Quarter Results
- 28 Jan 2025
Result Summary
- Canara Bank reported a 1.5% quarter-on-quarter (QoQ) decrease in its consolidated revenues for the quarter-ended Dec (Q3FY25). On a year-on-year (YoY) basis, it witnessed a growth of 5.1%.
- Its expenses for the quarter were down by 2.4% QoQ and up 2.8% YoY.
- The net profit increased 0.7% QoQ and increased 11.2% YoY.
- The earnings per share (EPS) of Canara Bank stood at 4.7 during Q3FY25.
Financial Statments for Q3FY25
| (₹ crores) | Q3FY25 | Q2FY25 | Q3FY24 | QoQ (%) | YoY (%) |
|---|---|---|---|---|---|
Total Income | 37429.90 | 38006.05 | 35630.18 | -1.5% | 5.1% |
Total Expenses | 29516.55 | 30241.54 | 28722.56 | -2.4% | 2.8% |
Provisions & contingencies | 2398.80 | 2252.00 | 1899.03 | 6.5% | 26.3% |
Profit Before Tax | 5514.55 | 5512.51 | 5008.59 | 0.0% | 10.1% |
Tax | 1353.55 | 1412.19 | 1270.33 | -4.2% | 6.6% |
Profit After Tax | 4255.68 | 4226.75 | 3826.55 | 0.7% | 11.2% |
Earnings Per Share | 4.70 | 4.60 | 20.90 | 2.2% | -77.5% |
Data Source: BSE, Company announcements The securities quoted are exemplary and are not recommendatory. Past performance is not indicative of future results
Company Overview
Canara Bank is a prominent Indian public sector bank that offers a wide array of financial products and services. The bank operates primarily in the banking sector, providing services including retail banking, corporate banking, insurance, investment, and treasury services. Founded in 1906, Canara Bank has a significant presence across India with a large network of branches and ATMs. The bank's focus remains on delivering comprehensive financial solutions to both individual and corporate clients. As of the latest update, there are no recent major developments disclosed in the provided data or additional information regarding strategic initiatives.
Revenue
In the third quarter of the fiscal year 2025 (Q3FY25), Canara Bank reported total income of ₹37,429.90 crore. This represents a quarter-over-quarter (QoQ) decrease of 1.5% compared to ₹38,006.05 crore in Q2FY25. However, there was a year-over-year (YoY) increase of 5.1% from ₹35,630.18 crore in Q3FY24. These changes reflect the bank's revenue performance over the specified periods, capturing fluctuations in its income streams. The consistent YoY growth indicates an expansion in the bank’s revenue generation over the previous year, while the QoQ decline points to a variation in revenue between the recent quarters.
Profitability
For Q3FY25, Canara Bank's profit before tax was ₹5,514.55 crore, with a negligible QoQ change from ₹5,512.51 crore in Q2FY25, and a YoY growth of 10.1% from ₹5,008.59 crore in Q3FY24. The profit after tax in Q3FY25 was ₹4,255.68 crore, marking a slight QoQ increase of 0.7% from ₹4,226.75 crore in the previous quarter and an 11.2% YoY rise from ₹3,826.55 crore in Q3FY24. The bank's earnings per share (EPS) were ₹4.70 in Q3FY25, increasing by 2.2% QoQ from ₹4.60 but showing a significant YoY decrease of 77.5% from ₹20.90 in Q3FY24. This data illustrates Canara Bank's profitability trends over the designated periods.
Operating Metrics
The bank's total expenses in Q3FY25 were reported at ₹29,516.55 crore, which is a 2.4% decrease from ₹30,241.54 crore in Q2FY25, and a 2.8% increase from ₹28,722.56 crore in Q3FY24. Provisions and contingencies stood at ₹2,398.80 crore in Q3FY25, reflecting a 6.5% QoQ rise from ₹2,252.00 crore and a 26.3% YoY increase from ₹1,899.03 crore in Q3FY24. The tax expense during this quarter was ₹1,353.55 crore, showing a reduction of 4.2% QoQ from ₹1,412.19 crore but a 6.6% increase YoY from ₹1,270.33 crore. These operating metrics provide insight into Canara Bank’s cost management and provisioning strategies over the past year and quarters.
