Vijaya Bank Q3 net tanks 65.45% to Rs 79.56 crore

NEW DELHI: State-owned Vijaya Bank today reported 65.45 per cent decline in net profit at Rs 79.56 crore for the third quarter ended on December 31, 2017, due to rise in provisions.

The bank had posted a net profit of Rs 230.28 crore in the October-December quarter of the 2016-17 fiscal.The bank's total income also declined 7.09 per cent to Rs 3,450.81 crore in the quarter under review from Rs 3,714.37 crore in the same period a year ago, Vijaya Bank said in a BSE filing.

During the quarter, Vijaya Bank's provision (other than tax) and contingencies grew by 62.35 per cent to Rs 676.92 crore as against Rs 416.95 crore in the year-ago period.
The bank's gross non-performing assets (NPAs) improved marginally to 6.17 per cent as against 6.98 per cent in the same quarter last fiscal.

Net NPA's also came down to 3.99 per cent in the quarter under review compared to 4.74 per cent a year ago.Shares of Vijaya Bank were trading 0.87 per cent lower at Rs 68.45 on BSE.