Karur Vysya Bank has posted an increase of 1.5 per cent in net profit at Rs 122.07 crore for the quarter ended June 30, 2014, as against Rs 120.3 crore registered for the same quarter of previous financial year.
The total income registered a growth of 2.3 per cent at Rs 1462.44 crore during the quarter, compared to Rs 1429.46 crore for the corresponding period of last fiscal year.
The gross non performing assets of the Bank was at Rs 450.96 crore at 1.30 per cent for the quarter, as against Rs 466.42 crore at 1.51 per cent. The net NPA stood at Rs 182.48 crore for the quarter ended June 30, 2014, at 0.53 per cent, as compared to Rs 154.53 crore for the same period of previous fiscal, at 0.50 per cent.
During the quarter, the NPA aggregating to Rs 32.46 crore (net of provisions) were assigned to Asset Reconstruction Companies for an aggregate consideation of Rs 36.62 crore. The provision converage ratio of the Bank is 75.04 per cent as on June 30, 2014, it added.
