KVB inches up after Q4 results

The bank announced Q4 results during trading hours today, 24 May 2013.

Meanwhile, the S&P BSE Sensex was up 63.91 points or 0.32% at 19,738.24.

On BSE, 38,286 shares were traded in the counter as against average daily volume of 12,843 shares in the past one quarter.

The stock hit a high of Rs 488.90 and a low of Rs 470.10 so far during the day. The stock had hit a record high of Rs 592.30 on 25 January 2013. The stock had hit a 52-week low of Rs 375 on 25 May 2012.

The stock had outperformed the market over the past one month till 23 May 2013, gaining 2.91% compared with the Sensex's 2.58% rise. The scrip had, however, underperformed the market in past one quarter, declining 2.16% as against Sensex's 1.85% gain.

The mid-cap private-sector bank has equity capital of Rs 107.20 crore. Face value per share is Rs 10.

Karur Vysya Bank's (KVB) net profit rose 9.68% to Rs 550.32 crore on 29.67% growth in total income to Rs 4694.99 crore in the year ended 31 March 2013 (FY 2013) over the year ended 31 March 2012 (FY 2012).

KVB's ratio of gross non-performing assets (NPAs) to gross advances decreased to 0.96% as on 31 March 2013, from 1.29% as on 31 December 2012 and 1.33% as on 31 March 2012. The ratio of net NPAs to net advances stood at 0.37% as on 31 March 2013, as against 0.38% as on 31 December 2012 and 0.33% as on 31 March 2012.

KVB's capital adequacy ratio (CAR) as per Basel II norms increased to 14.41% as on 31 March 2013, from 13.36% as on 31 December 2012 and 14.33% as on 31 March 2012.

KVB's provisions and contingencies galloped 1197.66% to Rs 88.76 crore in Q4 March 2013 over Q4 March 2012. Provision coverage ratio stood at 75.2% as on 31 March 2013.

KVB's board of directors at a meeting held today, 24 May 2013, recommended dividend of Rs 14 per share for FY 2013.

Karur Vysya Bank is a private-sector bank offering a wide gamut of financial services to its customers.

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