Private sector lender Karur Vysya Bank today reported a 24.25 percent decline in net profit at Rs 115.76 crore for the third quarter ended December 31, 2016 on account of higher expenses.
The bank had reported a net profit of Rs 152.83 crore in the same quarter of the previous fiscal.
The bank's total income growth during October-December period of current financial year increased 3.67 percent to Rs 1,581.26 crore, from Rs 1,525.14 crore in the year-ago period.
On the asset quality front, gross non-performing assets (NPAs) or bad loans stood at 2.66 percent of the total advances compared with 1.91 percent in the corresponding year-ago period while net NPAs were at 1.68 percent during the quarter as against 0.96 percent, in the comparable period a year ago.
The bank's expenses went up by 9.15 percent to Rs 1,309.44 crore in the third quarter from Rs 1,199.57 crore in the corresponding period of the previous fiscal.
Karur Vysya stock was trading 0.64 percent higher at Rs 86 apiece in the afternoon trade on BSE.
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