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Karur Vysya Financial institution Q3 revenue plunges 70%, asset high quality weakens – Moneycontrol.com

Karur Vysya Financial institution Q3 revenue plunges 70%, asset high quality weakens – Moneycontrol.com

Final Up to date : Feb 12, 2019 01:21 PM IST | Supply: Moneycontrol.com

Asset high quality weakened additional throughout December quarter. Gross non-performing belongings (NPA) as a share of whole advances had been larger at 8.49 p.c towards 7.70 p.c in earlier quarter.

Non-public sector lender Karur Vysya Financial institution’s third quarter (October-December) web revenue fell sharply by 70.Three p.c year-on-year to Rs 21.2 crore, dented by larger provisions and tepid NII progress.

Revenue in quarter ended December 2017 stood at Rs 71.5 crore.

Web curiosity revenue, the distinction between curiosity earned and curiosity expended, elevated 3.Four p.c to Rs 580.Eight crore in comparison with year-ago.

Asset high quality weakened additional throughout December quarter. Gross non-performing belongings (NPA) as a share of whole advances had been larger at 8.49 p.c towards 7.70 p.c in earlier quarter.

Web NPA additionally turned larger at 4.99 p.c in Q3 towards 4.41 p.c in September quarter.

In absolute time period, gross NPAs had been larger by 9.Four p.c sequentially at Rs 4,056 crore and web NPAs by 12 p.c at Rs 2,296 crore for December quarter.

Provisions and contingencies elevated by 23.Three p.c year-on-year to Rs 400.Four crore in quarter ended December 2018, and the identical jumped 88 p.c sequentially.

In the course of the quarter, different revenue (non-interest revenue) grew by 15.6 p.c year-on-year to Rs 260 crore and working revenue rose by 0.9 p.c to Rs 425 crore.

At 13:13 hours IST, the inventory was quoting at Rs 81.85, down Rs 3.40, or 3.99 p.c on the BSE.

First Revealed on Feb 12, 2019 01:21 pm

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