Karur Vysya gains on June quarter numbers

Karur Vysya Bank shares rose 5.57 per cent to close at Rs 323.1 on healthy quarterly numbers. Total income rose 30 per cent y-o-y to Rs 487.4 crore for the June quarter on the back of a robust increase in core and other income. Net profit grew by 130 per cent to Rs 70.35 crore in the same period on the back of lower provisioning.

Asset quality improved with gross NPA and net NPA at 1.76 per cent and 0.24 per cent, respectively. The stock opened at Rs 306, hit a low of Rs 303.1 and subsequently touched the day’s high of Rs 327.