Shares of this small-cap bank surged on reporting a 58 per cent jump in the Q4 net profit

Gyanesh Patodiya
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Shares of this small-cap bank surged on reporting a 58 per cent jump in the Q4 net profit

The company is engaged in providing a wide range of banking and financial services including commercial banking and treasury operations.

Karur Vyasa Bank has recently shared its Q4 result in which it has recorded a 58.25 per cent increase in net profit for the fourth quarter ended March 31, 2023, to Rs 337.82 crore, up from Rs 213.47 crore for the same quarter the year before. When compared to Q4FY22's preceding quarter, the bank's total revenue climbed by 34.33 per cent to Rs 2169.13 crore from Rs 1614.75 crore. 

The bank recorded a 64.29 per cent increase in net profit for the fiscal year that ended on March 31, 2023, from the prior year's level of Rs 673.27 crore to Rs 1106.09 crore. Comparing the year under review to the year ended March 31, 2022, the bank's total revenue increased by 20.75 per cent to Rs 7675.49 crore. 

The scrip opened today at Rs 99.49 and touched the day high and low of Rs 100.79 and Rs 96.20, respectively. Its 52-week high stood at Rs 116.00, whereas its 52-week low was Rs 41.75. The current market cap of the company is Rs 7,925.36 crore. Promoters hold 2.28 per cent, whereas the Institutional and non-institutional holdings are 38.18 per cent and 59.54 per cent, respectively.   

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M.A. Venkatarama Chettiar and Athi Krishna Chettiar founded Karur Vysya Bank (KVB) in 1916 in Karur, a tiny textile town with a significant agricultural heritage at the time. What began as a business with a seed investment of Rs 1.20 lakh has developed into a top financial institution that provides a wide range of financial services to millions of its clients under one roof. The Bank has always been at the forefront of embracing technology and utilising it to provide goods and services to its clients. 

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