Karur Vysya Bank Q1 net profit rises 1% to Rs148 crore
New Delhi: Private sector Karur Vysya Bank on Friday posted a 1.10% rise in net profit at Rs147.97 crore for the quarter ended 30 June.
The Tamil Nadu-based bank’s net profit stood at Rs146.35 crore during the corresponding quarter last fiscal. Its total income for the April-June quarter went up to Rs1,620.38 crore from Rs1,547.31 crore registered in the year- ago period.
Its provisioning and contingencies grew sharply to Rs233.44 crore in the quarter under review from Rs130.11 crore a year ago.
As on 30 June 2017, Karur Vysya Bank’s gross non performing assets (NPA) stood at 4.27 up from 1.79% in the corresponding period a year ago.
Its net NPA also increased to 2.85% from 0.79% earlier. Stock of the bank was trading 1.42% higher at Rs 139.10 apiece on BSE.
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