Karur Vysya Bank: This private sector bank has doubled investor wealth in Just 90 days; How to play it now?
Updated: 19 Sep 2022, 02:18 PM IST
TL;DR.On July 25, Karur Vysya Bank announced a 110 percent year-on-year increase in net profit to ₹229 crore for the first quarter of the fiscal year, up from ₹109 crore in the previous fiscal. Shares of the private sector lender have rallied nearly 36% in the last month.
The bank's provisions for bad loans and contingencies came down to ₹154.64 crore in the June quarter from ₹247.37 crore in the year-ago period.