Private sector Karur Vysya Bank today posted a 1.10 per cent rise in net profit at Rs 147.97 crore for the quarter ended June 30.
Private sector Karur Vysya Bank today posted a 1.10 per cent rise in net profit at Rs 147.97 crore for the quarter ended June 30. The Tamil Nadu-based bank’s net profit stood at Rs 146.35 crore during the corresponding quarter last fiscal. Its total income for the April-June quarter went up to Rs 1,620.38 crore from Rs 1,547.31 crore registered in the year- ago period. Its provisioning and contingencies grew sharply to Rs 233.44 crore in the quarter under review from Rs 130.11 crore a year ago. As on June 30, 2017, Karur Vysya Bank’s gross non performing assets (NPA) stood at 4.27 up from 1.79 per cent in the corresponding period a year ago.
Its net NPA also increased to 2.85 per cent from 0.79 per cent earlier. Stock of the bank was trading 1.42 per cent higher at Rs 139.10 apiece on BSE.