Karur Vysya Bank, a private sector bank, announced on Tuesday that its net profit for the October–December 2024 quarter increased by 20.39 per cent to Rs 496 crore.
In the same quarter of the previous fiscal year, the Tamil Nadu bank reported a net profit of Rs 412 crore.
Net profit Q3 FY25
In comparison to the net profit of Rs 1,149 crore for the same period of the previous fiscal year, the net profit for the nine-month period ending December 31, 2024, increased by 24.28 per cent to Rs 1,428 crore.
During the nine months that ended on December 31, 2024, the total income was Rs 8,482.33 crore, up from Rs 7,049.21 crore during the same period the previous year. The bank's total revenue for the reviewed quarter increased to Rs 2,953.44 crore from Rs 2,497.17 crore recorded in the previous year.
Q3 FY25 operational revenue
As of December 31, 2024, the bank's total revenue was Rs 1,81,993 crore, up from Rs 1,58,357 crore in the same quarter of the previous fiscal year. Our entire revenue exceeded Rs 1.81 lakh crore.
The nine-month net profit of Rs 1,428 crore was made possible by the inclusive growth from all business segments.
Gross and net NPA
The Gross Non-Performing Assets (GNPA) ratio is 0.83 per cent of gross advances as of December 31, 2024 (Rs 691 crore), up 75 basis points from 1.58 per cent as of December 31, 2023 (Rs 1,152 crore).
As of December 31, 2024, net non-performing assets are less than 1 per cent of net advances, at 0.20 per cent amounting to Rs 167 crore, compared to 0.42 per cent amounting to Rs 305 crore on December 31, 2023, the bank stated.
Bank's network
As of December 31, 2024, the bank had 2,197 ATM networks, 866 branches, and one digital banking unit in its distribution network. According to him, semi-urban and rural regions are home to roughly 55 per cent of the branches.
