Karur Vysya Bank (KVB) on Wednesday reported frst-quarter net profit rose marginally by ₹3 crore to ₹109 crore.
Total income from operations contracted to ₹1,596 crore from ₹1,693 crore, while net interest income rose 14% to ₹638 crore.
Net interest margin stood at 3.55%, the lender said in a statement.
Non-interest income (including treasury profit) declined to ₹220 crore from ₹317 crore. Last year, KVB had reported a higher treasury profit of ₹178 crore, which slipped to ₹35 crore for the current period. Cost of deposits improved by 84 basis points to 4.53%, while yield on advances contracted to 8.55% from 9.32%.
Gross NPAs declined to 7.97% from 8.34%, while net NPAs rose to 3.69% from 3.44%. Provision coverage ratio stands at 72.40%.
Total business grew 7.4% to ₹1,16,713 crore.