Karur Vysya Bank has reported a net profit of ₹473.60 crore for the Q2 FY25, marking a 25.1% rise compared to ₹378.45 crore in the same period last year. The profit growth is attributed to improved performance across key financial metrics.
The bank’s total income for Q2 FY25 stood at ₹2,856 crore, up from ₹2,336 crore in Q2 FY24. Operating profit before provisions and contingencies surged to ₹816.24 crore from ₹637.91 crore last year. Interest earned during the quarter amounted to ₹2,384 crore, supported by advances and bills.
Operating expenses increased to ₹715.72 crore from ₹616.36 crore in Q2 FY24, reflecting the bank’s investment in operations and human resources.
The bank made notable strides in asset quality, with Gross Non-Performing Assets (GNPA) dropping to ₹885.61 crore from ₹1,219.08 crore last year. The GNPA ratio improved to 1.10%, down from 1.73%. Net NPA also saw improvement, decreasing to ₹219.22 crore from ₹323.63 crore, with the NNPA ratio dropping to 0.28% from 0.47% in Q2 FY24.
The banks has also maintained a healthy capital adequacy ratio (CAR) of 16.28% under Basel III norms, slightly lower than last year’s 16.84%. The bank’s earnings per share (EPS) also improved, with basic EPS rising to ₹5.89 from ₹4.72 in Q2 FY24, and diluted EPS increasing to ₹5.88 from ₹4.70 last year.
Also Read | Indian Overseas Bank Q2 Results: Net Profit Surges 24% to ₹777 Crore, Income Jumps 22% YoY
The bank’s return on assets (ROA) improved to 1.72%, compared to 1.57% last year, while the debt-to-equity ratio stood at 0.05, down from 0.10.
With higher profitability and better asset quality, Karur Vysya Bank’s strong Q2 FY25 results highlight its solid position for future growth.
Elets The Banking and Finance Post Magazine has carved out a niche for itself in the crowded market with exclusive & unique content. Get in-depth insights on trend-setting innovations & transformation in the BFSI sector. Best offers for Print + Digital issues! Subscribe here➔ www.eletsonline.com/subscription/
