Karur Vysya Bank net soars 77%

Karur Vysya Bank (KVB) has reported 77 per cent rise in net profit at Rs 46.43 crore for the quarter ended December 31, 2007, compared with Rs 26.19 crore in the corresponding period a year ago.

KVB's operating profit in the third quarter increased 43.43 per cent to Rs 88.25 crore from Rs 61.51 crore in the same period of the previous fiscal. Total interest income grew 38.81 per cent to Rs 302.54 crore from Rs 225.28 crore.

Interest on advances increased by 38.81 per cent to Rs 226.77 crore from Rs 163.37 crore, while income on investments increased by 24.12 per cent to Rs 71.28 crore from Rs 57.43 crore.