Vijaya Bank soars on third-quarter showing

DALAL STREET SPIKES

Vijaya Bank hit a high of Rs 51.90 before closing at Rs 49.10 following the bank's impressive third quarter results.

In a subdued market, the scrip gained 4.35 per cent from its previous day's close. Analyst tracking the bank said that though the treasury income was the major source or revenue, the bank has witnessed impressive growth in the core (interest income business).

The counter witnessed volumes of more than 27 lakh shares on the BSE.

For the third quarter ended December 31, 2003, Vijaya Bank posted a 110 per cent rise in net profit to Rs 110.11 crore, compared with Rs 52.60 crore in the corresponding period of the previous year.

Net interest income rose by 21.65 per cent to Rs 516.18 crore, while the treasury income increased by 63.4 per cent to Rs 111.15 crore compared with Rs 67.91 crore in the same quarter last year.