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Private sector lender Karur Vysya Bank today reported a 11.18 per cent decline in net profit at Rs 126.31 crore for the second quarter ended September 30, 2017 mainly due to higher expenses.
The bank had recorded a net profit of Rs 142.22 crore in the corresponding quarter last fiscal.
Total income of the lender increased 2.57 per cent to Rs 1,610.77 crore during the quarter compared with Rs 1,570.27 crore in the corresponding period last fiscal, Karur Vysya Bank said in a regulatory filing.
Its other operating expenses jumped 54 per cent to Rs 238.92 crore from Rs 154.88 crore.
During the quarter, gross non-performing assets (NPAs) rose to 2.29 per cent from 1.96 per cent at the end of second quarter of 2015-16.
At the same time, net NPA also increased to 1.44 per cent from 0.96 per cent of the total assets.
Shares of Karur Vysya Bank were trading 0.11 per cent higher at Rs 475.80 on the BSE.
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