Karur Vysya Bank Q3 profit drops 5% to Rs 107 cr

However, the total income increased 19% to Rs 1,403 cr

Karur Vysya Bank (KVB), a private lender, has reported a 5% drop in net profit during the quarter ended December 31, 2013 at Rs 106.82 crore as compared to Rs 113.04 crore, a year ago.  However, the bank's total income rose to Rs 1,403.61 crore from Rs 1,177.59 crore, an increase of around 19%.

KVB's Gross NPA during the third quarter stood at Rs 484.93 crore as compared to 353.20 crore, an increase of around 38%. As a percentage the gross NPA stood at 1.47% as compared to 1.29%.

Net NPA stood at Rs 158.15 crore as compared to Rs 101.79 crore. As a percentage Net NPA 0.48% from 0.38%.
 

The bank's provision coverage ratio stood at 75.14% as on December 31, 2013.

The lender's stocks on BSE were trading 0.4% higher at Rs 333 apiece at 1345 hours.