Canara Bank Q3 declines 21% to Rs 876 cr

Canara Bank posted a 20.7% dip in net profit for the quarter ended December 2011 at Rs 876 crore as against Rs 1,105.7 crore in December 2010.

However, total income increased 33.3% to Rs 8,591 crore from Rs 6,444.5 crore in the same quarter a year ago.

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Provisions increased more than 200% to Rs 501 crore as against Rs 157 crore in the corresponding period a year ago.

The bank's stock dipped 2.2% to Rs 469 on Bombay Stock Exchange at 1250 hours.

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