Karur Vysya Bank announced Q2FY23 results: Q2FY23: Net profit for the quarter grew by 52% and stood at Rs. 250 crore from Rs. 165 crore during Q2 of previous year. Operating profit for the quarter was Rs. 572 crore as compared to Rs. 375 crore for Q2 of previous year. Net interest income for the quarter improved by ~21% (Rs. 141 crore) to Rs. 821 crore for the current quarter vis-à-vis Rs. 680 crore for Q2 of previous year. Net interest margin stands at 4.07% up 33 bps from 3.74% a year ago. Cost of deposits has improved by 24 bps and stands at 4.08% as compared to 4.32% during the previous year. Yield on advances is at 8.55% (8.62% for Q2 of previous year). Non-interest income for the quarter is Rs. 242 crore during the current quarter as compared to Rs. 165 crore a year ago. Fee based income has improved by Rs, 30 crore on YoY basis to Rs. 174 crore from Rs. 144 crore during the previous year. Operating expenses for the quarter was Rs. 491 crore as compared to Rs. 470 crore during Q2 of previous year. Cost to income ratio stands at 46.16% (55.57% for Q2 of previous year). H1FY23: Net profit for the half year registered a robust growth of 74.8% (Rs. 205 crore) and stood at Rs. 479 crore from Rs. 274 crore during corresponding period of previous year. Operating profit for the half year was at Rs. 1,048 crore, as compared to Rs. 787 crore for H1 of the previous year. Net interest income for the half year increased by 18.9% to Rs. 1,567 crore vis-à-vis Rs. 1,318 crore for H1 of FY 2021-22. Net interest margin stands at 3.95% up by 30 bps as compared to 3.65% during the first half of the previous year. Cost of deposits has improved by 33 bps and stands at 4.09% as compared to 4.42% during the H1 of previous year. Yield on advances is at 8.41% as compared to 8.59% during the first half of the previous year, Commission and fee based income has improved by 24.5% (Rs. 71 crore) on YoY basis to Rs. 361 crore from Rs. 290 crore for H1 of the previous year. Operating expenses for the half year was Rs. 960 crore as compared to Rs. 899 crore during first half of FY 2021-22. Result PDF