• Investment World
• eWorld
• Catalyst
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Port Info

• Ships in Ports
  
  

Archives

• Yesterday
• Datewise
• Resources

Group Sites

• The Hindu
• Business Line
• The Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Coimbatore , Jan. 28

KARUR Vysya Bank's net profit has slipped by more than half to Rs 20.72 crore for the quarter ended December 2004 compared with Rs 44.54 crore during the corresponding period of the earlier fiscal.

The net profit has dropped by 37.49 per cent in the first nine months to Rs 75.26 crore (Rs 120.40 crore). The dip in the net profit has been attributed to provision for depreciation, on shifting of Government securities from `available for sale' category to `held to maturity' category.

According to Mr P.T. Kuppuswamy, Chairman of the bank, this shifting insulated the bank's investment portfolio from future interest rate risk to a large extent.

The bank's interest income includes discount on advances and bills at Rs 96.96 crore (Rs 91.69 crore), income on investments at Rs 47.32 crore (Rs 57.24 crore).

"With the dividend from mutual funds units turning less attractive, our treasury income tended to dip," he said.

However, with the other income at Rs 21.25 crore (Rs 5.09 crore), the bank's total income rose to Rs 168.22 crore (Rs 157.06 crore) in the third quarter.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Clariant (India) nets lower profit

Copyright © 2005, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line