Pvt Bank Under Rs 100 Declares 58% Surge In Net Profit, 100% Dividend

Leading private bank that was incorporated in 1916, Karur Vysya Bank Ltd on Monday declared a jump of 58.3% in its net profit to Rs 338 crore for the quarter ended March 31, 2023 as against Rs 214 crore net profit declared in the corresponding quarter last fiscal. The board of directors of the banking company recommended dividend of 2.00 per equity share. The shares of Karur Vysya Bank soared 129% in last 1-year. Check details below:

Karur Vysya Bank Declares Dividend: According to the exchange filing of the bank, "Karur Vysya Bank Ltd has informed BSE that the Board of Directors of the Bank at its meeting held on May 15, 2023, inter alia, has recommended dividend of Rs. 2.00 per equity share on the face value Rs. 2/- each (i.e., 100 %) for the financial year ended March 31, 2023, subject to the approval of the shareholders at the ensuing Annual General Meeting (AGM) of the Bank."

Karur Vysya Bank Stock Performance & Return: The last trading price of Karur Vysya Bank is Rs 97.45 apiece with intraday gain of 1.14 on BSE. The stock's 52-week high price is Rs 116.00 apiece and 52-week low price is Rs 41.75 apiece, respectively. The company's market capitalisation is Rs 7,797.34 crore. The shares of Karur Vysya Bank soared 129% in last 1-year, 75% in last 2-years, 311% in last 3-years, and over 7% in last 5-years.

Karur Vysya Bank Q4: The bank's net interest income (NII) soared 25.7% to Rs 892.6 crore from Rs 710 crore year-on-year (YoY). Meanwhile, gross non-performing assets (GNPA) came down to 2.27% in Q4 FY23 as against 2.70% in Q4 FY22. Net NPA fell to 0.74% in Q4FY23 as against 0.90% reported in Q4FY22.