Karur Vysya Bank net profit up 7%

CHENNAI: Karur Vysya Bank posted a net profit of Rs 114 crore in the third quarter of FY 15, a 7% increase from Rs 107 crore it earned during the same period in the previous fiscal.
However, NPA (non-performing assets) of the bank continued to rise to Rs 680 crore as on December 31st 2014 as against Rs 485 crore during the quarter ended December 31, 2013.
Net NPA of the bank rose to Rs 257 crore as against Rs 158 crore during the same period last year.
The gross NPA ratio also increased from 1.47% to 1.91% while net NPA also rose to 0.73% as against 0.48% on December 31 2013.
“Fresh slippages during the quarter amounted to Rs 200 crore. Infrastructure and textile sectors continue to remain under stress,” managing director of Karur Vysya Bank K Venkataraman said.