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Karur Vysya Bank on Wednesday posted a marginal growth in its first quarter net profit at ₹109 crore.
The bank’s net profit for the same period last year stood at ₹106 crore. Operating profit on a y-o-y basis fell by ₹45 crore to ₹429 crore during Q1FY22. However, on a sequential basis, the operating profit went up by 72 per cent from ₹250 crore in Q4FY21.
Total income dropped to ₹1,596 crore in the April-June quarter as against ₹1,693 crore recorded in the same period last year.
Asset quality of the bank showed improvement on a y-o-y basis. Gross NPA as a percentage of total advances declined to 7.97 per cent for the first quarter of the current fiscal from 8.34 per cent in the previous year. However, net NPA marginally increased to 3.69 per cent (3.44 per cent) during the comparable period.
Total business as of June 2021 stood at ₹1,16,713 crore growing at 7.4 per cent Y-o-Y. While total deposits at the end of first quarter stood at ₹64,398 crore, advances stood at ₹52,315 crore.
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