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Karur Vysya Bank shares down over 3 pc on Q2 earnings

Press Trust of India  |  New Delhi 

The scrip of today fell by over 3 per cent after the company reported a 40 per cent fall in net profit for the September quarter.

The stock declined by 3.23 per cent to end at Rs 124.45 on Intra-day, it dropped 4.93 per cent to Rs 122.25.

On NSE, of the company slipped 3.44 per cent to close at Rs 124.70.

Private sector today reported a 40 per cent fall in net profit at Rs 75.65 crore for the September quarter due to increased provisioning for rising bad loans.

The had registered a net profit of Rs 126.31 crore in the similar July-September quarter of the previous fiscal.

Total of the bank was at Rs 1,632.50 crore in the July-September period of 2017-18, up from Rs 1,610.77 crore in the same period of 2016-17, the bank said in a regulatory filing.

Its gross non-performing assets (NPAs) hit 4.83 per cent of the gross loans as on September 30, 2017 as against 2.29 per cent till the same period of 2016.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, November 14 2017. 17:22 IST