Karur Vysya Bank Ltd.'s standalone net profit during the quarter ended March rose 13% to Rs 513 crore, according to an exchange filing on Monday.
The net interest income — the difference of interest earned and interest paid — rose 9% to Rs 1,089 crore, the private sector bank said.
Karur Vysya Bank Q4 Highlights (Standalone, YoY)
Net Interest income up 9% to Rs 1,089 crore versus Rs 998 crore.
Operating profit down 3.7% to Rs 835 crore versus Rs 867 crore.
Net profit up 12.5% to Rs 513 crore versus Rs 456 crore.
Gross NPA at 0.76% versus 0.83% (QoQ).
Net NPA flat at 0.2% (QoQ).
Provisions down 45% to Rs 161 crore versus Rs 293 crore.
Karur Vysya Bank announced a dividend of Rs 2.6 per equity share with a face value of Rs 2 for fiscal 2024–25. The company will disburse Rs 208 crore to the shareholders.
Shares of Karur Vysya Bank ended 0.12% lower at Rs 225.47 apiece on the NSE, compared to a 0.3% decline in the benchmark Nifty. The stock has risen 15.57% in the last 12 months and 3.84% on a year-to-date basis.
Sixteen out of the 17 analysts tracking the company have a 'buy' rating on the stock, while one maintains 'hold', according to Bloomberg data. The average of 12-month consensus price target implies a potential upside of 19.1%.
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