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Wednesday, August 7, 2013

Karur Vysya Bank Q1 profit down 17%

Private sector lender Karur Vysya Bank said its net profit in the first quarter of the current financial year fell by 17.6 per cent to Rs 120.30 crore.

The bank had posted net profit of Rs 145.95 crore in the corresponding period (April-June) of 2012-13.

Total income rose to Rs 1,429.46 crore during the period under review from Rs 1,109.81 crore a year-ago, the bank said in a filing to the BSE.

Net non-performing assets (NPAs) or bad loans increased to 0.5 per cent from 0.38 per cent during the first quarter of FY13.

Gross NPAs, however, decreased slightly to 1.51 per cent from 1.53 per cent a year earlier.

Shares of the bank ended at Rs 345 apiece on the BSE, down 5.41 per cent from the previous close.

Source: Financial Express


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