Karur Vysya Bank Q1 profit down 17%

Bank posted net profit of Rs 145.95 crore in the corresponding period of 2012-13

Private sector lender Karur Vysya Bank today said its net profit in the first quarter of the current financial year fell by 17.6% 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% from 0.38% during the first quarter of FY13.

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

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