NEW DELHI: Corporation BankBSE -6.68 %slipped as much as 7.3 per cent in morning trade on Tuesday, a day after the public sector lender reported a 96 per cent drop in net profit for the quarter ended September 30, as provisions for bad loans, depreciation on investments, increase in cost of deposits and sharp increase in expenses weighed on the bank. The net profit of the bank for the second quarter decreased to Rs 15.48 crore as against Rs 405.71 crore for the second quarter of the previous fiscal year.
At 11:20 a.m.; Corporation bank was trading 6.8 per cent lower at Rs 278. It has hit a lowof Rs 277.60 and a high of Rs 287.95 in trade today.
pratima kumari
pgdm 1st sem
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