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Canara Bank Q2 results: Profit rises 8% to ₹5,175 cr, revenue at ₹40,931 cr

Canara Bank moved higher in a quarterly results development.

· BS Companies

State-owned Canara Bank on Wednesday reported an 8 per cent increase in net profit at Rs 5,175 crore for the September quarter of this fiscal. During the same quarter of the previous financial year, the bank had earned a net profit of Rs 4,774 crore in the year-ago period.

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Canara Bank reported ₹5,175 cr, ₹40,931 cr and Rs 5,175 crore, with movement of 8%, 20% and 1.33% attached to those lines. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.

Against that, the stock is +3.3% on the day at ₹124.45, and has returned -1.1% over three months. It sits 22% below its 52-week high. The banks sector has moved -2.1% over the same period, so Canara Bank is running 1.0 points ahead of its peers.

For Canara Bank, the question is how much of this is already reflected in the price and how much re-rates the banks peer set alongside it.

  • Earnings versus expectations is what actually re-rates a stock; the surprise matters more than the absolute number.
  • The company directly in focus is CANBK.
  • Sector exposure: Banks, Financial Services.
  • The immediate tone of coverage reads positive.
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