Aug 06, 2013, 01.24 PM IST
Private sector lender Karur Vysya Bank's provisions increased 84 percent sequentially (up 16.35 times Y-o-Y) to Rs 163.2 crore during April-June quarter. Provision coverage ratio was 73.03 percent as on June 30, 2013.
Private sector lender Karur Vysya Bank on Tuesday reported dismal performance during the first quarter (April-June) as the net profit fell 17.5 percent year-on-year to Rs 120.3 crore on sharp jump in provisions despite strong income from its treasury operations.
However, net interest income (NII) grew by 30.3 percent on yearly basis to Rs 331.8 crore on good growth in treasury, corporate and retail operations.
Provisions increased 84 percent sequentially (up 16.35 times Y-o-Y) to Rs 163.2 crore during April-June quarter. Provision coverage ratio was 73.03 percent as on June 30, 2013.
Gross non-performing asset (NPA) jumped 55 basis points Q-o-Q (flat on yearly basis) to 1.51 percent while net NPA rose 13 bps Q-o-Q (up 12 bps Y-o-Y) to 0.50 percent in first quarter.
Gross NPAs balloned 63 percent sequentially (up 24 percent year-on-year) to Rs 466.42 crore during the quarter. Net NPAs soared 42 percent quarter-on-quarter (up 67.4 percent Y-o-Y) to Rs 154.53 crore in April-June quarter.
Capital adequacy ratio (as per Basel III) was 12.52 percent as of June 30.
The stock touched a new 52-week low of Rs 342.50 today. It declined 4.56 percent to Rs 348.10 amid hefty volumes on the BSE, at 12:56 hours IST.
Action in Karur Vysya Bank
Video of the day
Dec 11 2013, 09:54
- in Business
Dec 4 2013, 11:08
- in FII View
Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.