Karur Vysya Bank's gross non-performing assets (NPA) increased to 7.70 percent during the quarter against 7.44 percent in June quarter, but net NPA fell to 4.41 percent against 4.50 percent QoQ.
Karur Vysya Bank's second quarter profit grew by 10.7 percent year-on-year to Rs 83.7 crore on lower provisions. However, lower other income and operating income limited profitability.
Net interest income for the quarter stood at Rs 579.1 crore, a growth of 4.3 percent compared to Rs 555 crore in same period last fiscal with slow loan growth of 7 percent YoY.
Provisions and contingencies fell sharply at Rs 213.1 crore in quarter ended September 2018, against Rs 422.7 crore in previous quarter and Rs 321.4 crore in second quarter of last financial year.
On the asset quality front, gross non-performing assets (NPA) increased to 7.70 percent during the quarter against 7.44 percent in June quarter, but net NPA fell to 4.41 percent against 4.50 percent QoQ.
Other income or non-interest income declined 23.7 percent year-on-year to Rs 175.56 crore and operating profit was down 15.37 percent at Rs 361.4 crore in Q2FY19.
At 12:20 hours IST, the stock was quoting at Rs 76.55, up Rs 1.60, or 2.13 percent on the BSE.
