NEW DELHI :
Karur Vysya Bank Tuesday said the gone by December quarter saw a decline of over 70% in net profit to ₹21.20 crore as bad loans spiked.
The private sector lender had clocked a profit of ₹71.49 crore in October-December 2017-18.
Total income went up at ₹1,702.65 crore in the latest quarter as against ₹1,647.17 crore in the same period of 2017-18, the bank said in a regulatory filing.
Gross bad loans spiked to 8.49% of gross advances as at December-end 2018 from 5.94% by December 2017.
In terms of value, gross non-performing assets (NPAs) or bad loans stood at ₹4,055.73 crore, higher than ₹2,663.32 crore a year ago.
Net NPAs too rose to 4.99% ( ₹2,295.60 crore) from 3.88% ( ₹1,698.92 crore).
Provision coverage ratio was at 56.09% as at December-end 2018, Karur Vysya Bank said.
Stock of the bank was trading 4.40% down at ₹81.50 on BSE.
This story has been published from a wire agency feed without modifications to the text.