Karur Vysya Bank net up 10% to Rs 113 cr

Karur Vysya Bank's net profit rose 10.44 per cent for the quarter ended September to Rs 113.31 crore compared with Rs 102.60 crore achieved during the corresponding quarter of the earlier fiscal.

Its operating profit increased 8.7 per cent to Rs 157.67 crore (Rs 145.07 crore) consequent to a 24.27 per cent increase in its net interest income to Rs 216.47 crore (Rs 174.19 crore).

Interest income was up 49 per cent to Rs 772.05 crore (Rs 518.38 crore).

The bank's year-on-year net profit increased by 23 per cent to Rs 230.01 crore against Rs187.08 crore during the corresponding first half of the earlier fiscal

With deposits up by 28 per cent at Rs 27,121 crore and advances by 32 per cent to Rs 20,216 crore, the bank's business mix crossed the Rs 47,000-crore mark. The bank is aiming to reach a business level of Rs 55,000 crore by end March 2012.

Its gross NPA fell from 1.55 per cent in the first half of the last fiscal to 1.48 per cent.