The net profit of Karur Vysya Bank for the third quarter ended December 2017 slipped to Rs 71 crore compared to Rs 116 crore during the corresponding quarter of the earlier fiscal. Operating profit on the other hand was up 25 per cent at Rs 421 crore (Rs 335 crore).
The gross and net NPA more than doubled to 5.94 per cent and 3.88 per cent as of December 2017 compared to the 12-month ago average of 2.66 per cent and 1.68 per cent. While the gross NPA touched a high of Rs 2,662 crore (Rs 1,022 crore), net NPA rose to Rs 1,699 crore (Rs 638 crore). The provision coverage ratio stood at 54 per cent.
Net interest income registered an 8.5 per cent growth, while non-interest income increased 32.3 per cent to Rs 225 crore from Rs 170 crore during the third quarter of 2016. Net interest margin improved marginally from 3.68 per cent to 3.71 per cent.
The total business of the bank during the first nine months of the current fiscal grew 9 per cent to Rs 1,01,955 crore.
On Wednesday, KVB shares gained 2.16 per cent or Rs 2.35 to end at Rs 110.90 on the BSE.