Karur Vysya Bank Q1 profit up 9 %

Karur Vysya Bank (KVB) has reported a nine per cent rise in its net profit to Rs 146.35 crore during the quarter ended June 2016, as against Rs 134.58 crore, a year ago.

The bank's total income rose to Rs 1,547.31 crore, from Rs 1,518.50 crore in the corresponding period last year.

Interest earned stood at Rs 1385.03 crore, as against Rs 1356.34 crore.

KVB's gross non-performing assets (NPAs) stood at Rs 702.35 crore, as compared to Rs 713.07 crore last year. In terms of per centage, it stood at 1.79 per cent, as compared to 1.91 per cent.

Net NPA of the bank dropped to Rs 306.17 crore, from Rs 323.10 crore, or 0.79 per cent from 0.88 per cent. Provision coverage ratio as on June 30, 2016 was 78.49 per cent.