Karur Vysya Bank second quarter net down 11.18 percent at Rs 126.31 cr

The total income of the lender also increased by 2.57 per cent to Rs 1,610.77 crore during the quarter compared to Rs 1,570.27 crore in the corresponding period last fiscal.

By: PTI | New Delhi | Published:October 28, 2016 12:40 pm

Private sector lender Karur Vysya Bank om Friday reported a 11.18 per cent decline in net profit at Rs 126.31 crore for the second quarter ended September 30, mainly due to higher expenses. The bank had recorded a net profit of Rs 142.22 crore in the corresponding quarter last fiscal. The total income of the lender also increased by 2.57 per cent to Rs 1,610.77 crore during the quarter compared to Rs 1,570.27 crore in the corresponding period last fiscal, Karur Vysya Bank said in a regulatory filing.

Its other operating expenses jumped by 54 per cent to Rs 238.92 crore during the quarter under review as against Rs 154.88 crore reported last year.
During the quarter, the gross non-performing assets (NPAs) rose to 2.29 per cent from 1.96 per cent at the end of second quarter of 2015-16.

At the same time, net NPA of the bank also increased to 1.44 per cent from 0.96 per cent of the total assets. Shares of Karur Vysya Bank were trading 0.11 per cent higher at Rs 475.80 on BSE.