Private sector lender Karur Vysya Bank today reported a 34.20 per cent jump in net profit at Rs 152.83 crore for third quarter ended December 31, on account of lower provisions for bad loans.
The bank had reported a net profit of Rs 113.88 crore in the same quarter of the previous fiscal.
Bank’s total income growth during October-December period of current financial year remained flat at Rs 1,525.14 crore, from Rs 1,511.8 crore in the year-ago period.
On the asset quality front, the gross non-performing assets (NPAs) or the bad loans remained constant at 1.91 per cent of the total advances while net NPAs increased to 0.96 per cent during the quarter review as against 0.73 per cent in the corresponding period a year ago.
Bank had made provisioning towards bad assets to the tune Rs 92.74 crore in third quarter, down 12.63 per cent from Rs 106.15 crore in the comparable period.
Karur Vysya was trading at Rs 488 on BSE, down 1.01 per cent from previous close on BSE.