Karur Vysya Bank Q4 net profit up by 58% to Rs 217 cr in March quarter

Bank's operating profits increased by 55.30 per cent to Rs 507 cr

Karur Vysya Bank (KVB) net profit rose by 57.65 per cent during the fourth quarter FY17 to Rs 217.56 crore as against Rs 138 crore in the corresponding period in the year-ago period.

Bank's operating profits increased by 55.30 per cent to Rs 507.06 crore as as against Rs 326.51 crore in the same quarter in FY16.

Net interest margin (NIM) rose to 4.05 per cent in the fourth quarter from 3.43 per cent in the year-ago period.

Capital to risk weighted assets ratio (Basel III) stood at 12.54 per cent as against a regulatory minimum of 9 per cent.

Ratio of gross NPA to gross advances increased to 3.58 per cent from 1.30 per cent in the same quarter in the previous financial year. Meanwhile, the ratio of net NPA to net advances increased to 2.53 per cent from 0.55 per cent in the same period in FY16. 

In December last year, bank's net NPA to gross advances ratio stood at 2.66 per cent, while its net NPA to net advances ratio stood at 1.68 per cent.