Groww Q2 results: Net profit rises 54% to ₹725 crore, revenue up 44%
The company had posted a profit after tax of ₹471.34 crore in the year-ago period
Shares of public sector bank Canara Bank rose nearly 4% on Wednesday following the release of its Q2 results for the fiscal year 2027. The lender's performance was boosted by higher net interest income, lower non-performing assets and reduced provisions, which together drove a 9% increase in net profit to ₹5,175 crore.
The PSU bank's net interest income surged 20.4% year-on-year, reaching ₹11,004 crore, while its gross non-performing asset ratio fell to 1.33% from 1.57% in the previous quarter. Canara Bank's asset quality also improved, with gross bad loans declining to ₹18,298.95 crore from ₹20,354.34 crore, and net NPAs dropping to ₹4,053.19 crore from ₹4,652.95 crore.
Provisions shrank to ₹3,583 crore from ₹3,780 crore in the prior quarter, further bolstering profitability. However, new slippages increased slightly to ₹1,844 crore from ₹1,781 crore in the same period. The bank's loan portfolio grew 19.3% year-on-year to ₹13.73 lakh crore, while loan growth hit 6.2% sequentially.
Despite the positive earnings outlook, Canara Bank shares traded at ₹125.17 following the announcement, still lagging behind by around 19% for the year 2026. The stock's underperformance highlights the disconnect between improving quarterly fundamentals and the company's broader market performance.
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