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Karur Vysya Bank has reported a sharp decline in its net profit for the quarter ended March 2018 at ₹50.56 crore against ₹217.56 crore during the corresponding quarter of the previous fiscal.
The operating profit (before provisions and contingencies) also slipped to ₹479.71 crore (₹507.06 crore)
Provisions (other than tax) and contingencies swelled to ₹394.17 crore, compared to the year-ago sum of ₹217.50 crore.
The gross NPA increased to 6.56 per cent (from 5.94 per cent in the December quarter), and the net NPA also climbed to 4.16 per cent (3.9 per cent).
The bank, in its filing, said that gross and net NPA divergences for fiscal 2016-17 stood at ₹651 crore and ₹202 crore respectively, while the provision divergence stood at ₹202 crore.
The net interest income was up 10.8 per cent and other income fell 10 per cent during the March quarter compared to the year-ago figure.
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