Canara Bank shares surge over 5% as Q1 net profit rises 22% YoY to ₹4,752 crore

Shares of Canara Bank surged as much as 5.06% to an intra-day high of ₹113.25 apiece on the National Stock Exchange (NSE) on Thursday, July 24, after it posted a 22% growth in net profit to ₹4,752 crore during the first quarter of the current financial year.

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

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

Interest earned by the bank improved to ₹31,003 crore, as compared to ₹28,701 crore in the June quarter of Y25.

During the period under review, the operating profit of the bank increased to ₹ 8,554 crore, as compared to ₹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% of gross advances at the end of the June quarter, from 4.14% a year ago.

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

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

Its Provision Coverage Ratio (PCR) improved to 93.17%, from 89.22% in Q1FY25.

At the same time, Canara Bank’s Return on Assets (ROA) improved to 1.14% for June 2025, from 1.05% in June 2024.

The bank’s capital adequacy ratio of the bank rose to 16.52%, from 16.38 % in the same quarter of FY25.

The bank had 9,861 branches, including 3,143 in rural areas, 2,903 in semi-urban areas, 1,951 in urban and 1,846 in metros, along with 7,907 ATMs, as of June 30, 2025.

It also has four overseas branches in London, New York, Dubai and IBU Gift City.

As of 2:01 pm, the stock of Canara Bank was trading 4.68% higher at ₹112.85.

It also has a total market capitalisation of ₹1.02 lakh crore, as of July 24, 2025, as per data on the NSE.