Karur Vysya Bank Q3 net slips on provisions

Net NPA grows to 4.99% from 3.88%

Karur Vysya Bank Ltd. has reported a 70.34% drop in its net profit for the third quarter ended December 2018, to ₹24.61 crore from ₹71.49 crore registered in the corresponding year-earlier period.

Net interest income increased 3.4% to ₹580.83 crore.

Other income (non-interest income) grew by 15.6% to ₹259.89 crore and the operating profit rose to ₹425 crore from ₹421.19 crore.

Gross non-performing assets (NPA) as a percentage of total advances stood at 8.49% against 5.94%. In absolute terms, it stood at ₹4,055.73 crore(₹2,663.32 crore).

Net NPA grew to 4.99% from 3.88% and in value terms, it went up to ₹2,295.60 crore(₹1,698.82 crore). Provisions and contingencies increased by 23.3% to ₹400.40 crore(₹324.70 crore).

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