Karur Vysya Bank announced Q3FY23 results: Q3FY23 vs Q3FY22: Net profit for Q3FY23 grew by 56.2% and stood at Rs 289 crore from Rs 185 crore during Q3FY22. Operating profit for Q3FY23 was Rs 689 crore as compared to Rs 401 crore for Q3FY22. Net interest income for Q3FY23 improved by 29.4% (Rs 203 crore) to Rs 889 crore for the current quarter vs Rs 686 crore for Q3FY22. Net interest margin stands at 4.32% up 64 bps from 3.68% a year ago. Cost of deposits has increased by 4 bps and stands at 4.26% as compared to 4.22% during the previous year. Yield on advances is at 9.04% (8.42% for Q3FY22). Non-interest income for Q3FY23 is Rs 317 crore as compared to Rs 196 crore a year ago. Fee based income has improved by Rs 22 crore and stood at Rs 184 crore from Rs 162 crore during the previous year. Operating expenses for Q3FY23 was Rs 517 crore as compared to Rs 481 crore during Q3FY22. Cost to income ratio stands at 42.9% (54.5% for Q3FY22). 9MFY23 vs 9MFY22: Net profit for the period registered a robust growth of 67% and stood at Rs 768 crore from Rs 460 crore during the corresponding period of previous year. PPOP for the period is at Rs 1,737 crore, as compared to Rs 1,189 crore for the corresponding period of the previous year. Net interest income for the nine months increased by 22.5% to Rs 2,456 crore vs Rs 2,005 crore for the corresponding period of FY22. Net interest margin stands at 4.08% up by 42 bps as compared to 3.66% during the corresponding period of the previous year. Cost of deposits has improved by 21 bps and stands at 4.14% as compared to 4.35% during the corresponding period of previous year. Yield on advances grew to 8.63% by 10 bps as compared to 8.53% during the corresponding period of the previous year. Commission and fee based income has improved by 20.6% on YoY basis to Rs 545 crore from Rs 452 crore for the corresponding period of the previous year. Operating expenses for the period was Rs 1,477 crore as compared to Rs 1,380 crore during the corresponding period of FY22. Result PDF