Karur Vysya net rises marginally

The Karur Vysya Bank (KVB) reported 2 per cent increase in net profit to Rs 43.41 crore in the second quarter ended September 30 compared with Rs 42.56 crore in the second quarter of the previous year.

The previous year's second quarter results included Rs 15.15 crore earned from the sale of stake in Bharat Overseas Bank to Indian Overseas Bank. Excluding this figure, the bank's second quarter net profit would be up by 58.37 per cent, the bank said.

The bank's total interest income in the second quarter rose 31 per cent to Rs 272.65 crore from Rs 208.11 crore earlier.

The interest on advances increased by 38.52 per cent from Rs 140.02 crore to Rs 193.95 crore and other income stood at Rs 37.21 crore.