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CANARA Bank on Wednesday reported a 30 per cent dip in net profit at Rs 503 crore for the fourth quarter ( Q4) ended March 31, 2010, due to low trading profit and higher provisions.

During 2009- 10, the bank made a total provision of Rs 2,039 crore — including Rs 927 crore for Q4 — which includes a provision of Rs 1,408 crore towards non- performing assets ( NPA), bank chairman and managing director A. C. Mahajan said while announcing the results.

On the decline in the Q4 net profit, he said, “ Income from sale of investments during the quarter was to the extent of Rs 114 crore against Rs 349 crore during the same period a year ago at Rs 3,021 crore.

The bank, however, saw a jump of 45.8 per cent to Rs 2,072 crore in its net profit. Total business for the year rose by 24.3 per cent to Rs 4,03,986 crore from Rs 3,25,112 crore in 2008- 09.

Deposits and advances grew to Rs 2,34,651 crore and Rs 1,69,335 crore, a growth of 25.6 per cent and 22.5 per cent, respectively.

Giving a sector- wise NPA of the bank, he said there was a slippage in advances to agriculture sector to the tune of Rs 460 crore, and that to micro, small and medium enterprises ( MSME) to the extent of Rs 393 crore, among others.