 "Karur Vysya Bank Q1 net up 8% at Rs 146 crore")
Private sector Karur Vysya Bank on Tuesday posted a 8.74 per cent rise in net profit at Rs 146.35 crore for the quarter ended June 30, 2016.
The Tamil Nadu-based bank's net profit had stood at Rs 134.58 crore during the corresponding quarter of the past financial year, a bank statement said.
The net profit for the financial year ending March 31, 2016 stood at Rs 567.63 crore.
Total income for the April-June quarter went up to Rs 1,547.31 crore from Rs 1,518.50 crore registered in the year-ago period.
For the FY ending March 31, 2016, total income was at Rs 6,150.21 crore.
As on June 30, 2016 Gross Non Performing Assets (NPA) decreased to 1.79 per cent from 1.91 per cent, while Net NPA decreased to 0.79 per cent from 0.88 per cent.
Net Interest Margin rose to 3.52 per cent for the April-June 30, 2016 quarter from 3.30 per cent registered during same period of previous year.
The aggregate business level touched Rs 90,096 crore in the quarter ending June 30, 2016. Deposits recorded a 11.07 per cent growth to reach Rs 50,715 crore from Rs 45,659 crore registered during same period of previous year.
Gross advances grew to Rs 39,382 crore for the quarter ending June 30, 2016 from Rs 37,220 crore registered during same period of the past FY.
Shares of the bank on Tuesday closed 5.09 per cent down at Rs 481.10 apiece on BSE.
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