Karur Vysya Bank gains after Q2 PAT rises 44% YoY to Rs 165 cr

Karur Vysya Bank rose 1.17% to Rs 51.95 after the bank's net profit rose 44.01% to Rs 165.45 crore on 1.04% decrease in total income to Rs 1561.05 crore in Q2 September 2021 over Q2 September 2020.

Profit before tax rose 27.84% to Rs 209.69 crore in Q2 September 2021 over Q2 September 2020.

Provision and contingencies fell 16.22% to Rs 164.15 crore during the period under review.

Provision Coverage Ratio as on 30 September 2021 stood at 76.28% as against 75.19% in the corresponding previous period.

The bank's gross non-performing assets (NPAs) stood at Rs 3971.64 crore as on 30 September 2021 as against Rs 4167.49 crore as on 30 June 2021 and Rs 3998.43 crore as on 30 September 2020.

The ratio of gross NPAs to gross advances stood at 7.38% as on 30 September 2021 as against 7.97% as on 30 June 2021 and 7.93% as on 30 September 2020.

The ratio of net NPAs to net advances stood at 2.99% as on 30 September 2021 as against 3.69% as on 30 June 2021 and 2.99% as on 30 September 2020.

Karur Vysya Bank had a branch network of 780 and an ATM and cash recyclers network of 2236 as on 31 March 2021.

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