Karur Vysya Bank Q1 profit jumps 45% to Rs 105.5 cr as bad loans decline

Asset quality improved, with gross non-performing assets (NPAs) falling to 8.34 per cent of gross advances as on June 30, 2020 from 9.17 per cent a year ago

Karur Vysya Bank (KVB) on Thursday reported a 45 per cent jump in net profit at Rs 105.50 crore in the first quarter ended June of the current fiscal on fall in bad loans.

The private bank had posted a net profit of Rs 72.92 crore in the corresponding quarter of previous fiscal year ended March 2020.

Total income, however, fell to Rs 1,693.23 crore during April-June period of 2020-21 from Rs 1,762.37 crore in the same period of 2019-20, KVB said in a regulatory filing.

The bank's retail banking income fell to Rs 929.80 crore during the quarter under