Karur Vysya Q3 net up 34% at Rs 153 crore

Gross NPAs remained constant at 1.91% of the total advances

Private sector lender Karur Vysya Bank today reported a 34.20% jump in net profit at Rs 152.83 crore for third quarter ended December 31, on account of lower provisions for bad loans.

The bank had reported a net profit of Rs 113.88 crore in the same quarter of the previous fiscal.

Bank's total income growth during October-December period of current financial year remained flat at Rs 1,525.14 crore, from Rs 1,511.8 crore in the year-ago period.

On the asset quality front, the gross non-performing assets (NPAs) or the bad loans remained constant at 1.91% of the total advances while net NPAs increased to 0.96% during the quarter review as against 0.73% in the corresponding period a year ago.

Bank had made provisioning towards bad assets to the tune Rs 92.74 crore in third quarter, down 12.63% from Rs 106.15 crore in the comparable period.

Karur Vysya was trading at Rs 488 on BSE, down 1.01% from previous close on BSE.