New Delhi, Nov 14 (PTI) The scrip of Karur Vysya Banktoday fell by over 3 per cent after the company reported a 40per cent fall in net profit for the September quarter.
The stock declined by 3.23 per cent to end at Rs 124.45on BSE. Intra-day, it dropped 4.93 per cent to Rs 122.25.
On NSE, shares of the company slipped 3.44 per cent toclose at Rs 124.70.
Private sector Karur Vysya Bank today reported a 40 percent fall in net profit at Rs 75.65 crore for the Septemberquarter due to increased provisioning for rising bad loans.
The bank had registered a net profit of Rs 126.31 crorein the similar July-September quarter of the previous fiscal.
Total income of the bank was at Rs 1,632.50 crore in theJuly-September period of 2017-18, up from Rs 1,610.77 crore inthe same period of 2016-17, the bank said in a regulatoryfiling.
Its gross non-performing assets (NPAs) hit 4.83 per centof the gross loans as on September 30, 2017 as against2.29 per cent till the same period of 2016. PTI SUMSBT.
This is unedited, unformatted feed from the Press Trust of India wire.