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Karur Vysya Bank Q4 net declines by 76.76 pc to Rs 50.56 cr

5/25/2018

Mumbai, Private sector lender Karur Vysya Bank has posted decline of 76.76 per cent in its net profit for the quarter ended March 31, 2018 at Rs 50.56 crore, as against Rs 217.56 crore for the period ended March 31, 2017. However, Total Income for the quarter under review rose marginally by 2.06 to Rs 1699.53 crore, as compared to Rs 1665.23 crore for the quarter ended March 31, 2017, the Bank said in a filing with the BSE. For the Financial Year ended March 31, 2018, the Bank has reported a drop of 42.96 per cent in its net profit at Rs 345.67 crore, as against net profit of Rs 605.98 crore for year ended March 31, 2017. However, total income for the year ended went up by 3.04 per cent to Rs 6599.58 crore, as compared to Rs 6404.57 crore for the year ended March 31, 2017. The Board of Directors of the Bank at its meeting held on May 25, 2018, have recommended a dividend of Rs 0.60 per equity share of Rs two each for the year 2017-18, subject to necessary approvals.

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