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Vijaya Bank has reported a 43.3 per cent decline in net profit at Rs 144.34 crore for the June quarter even though NPA ratio improved. The public sector bank had registered a net profit of Rs 254.69 crore in the April-June quarter of 2017-18.
Total income rose to Rs 3,935.77 crore during the quarter from Rs 3,510.11 crore a year ago, the bank said in a regulatory filing today.
Gross non-performing assets (NPAs) fell to 6.19 per cent of gross advances as on June 30, 2018 from 7.3 per cent a year ago. Likewise, net NPAs or bad loans fell to 4.10 per cent as a percentage of net loans by June 30 from 5.24 per cent earlier.
In absolute terms, gross NPAs however rose to Rs 7,579.11 crore as on June 30, 2018 against Rs 6,812.21 crore a year ago. Net NPAs stood at Rs 4,903.92 crore (Rs 4,784.26 crore).
The bank had made a higher provisioning and contingencies at Rs 659.38 crore for the quarter under review from Rs 423.20 crore a year ago. Of this, provisioning for NPAs were of the order of Rs 547.77 crore, up from Rs 410.99 crore a year ago.
Shares of Vijaya Bank were trading up by 5.52 per cent at Rs 52.60 on the BSE.
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