Vijaya Bank today reported 43.3 per cent decline in net profit at Rs 144.34 crore for June quarter even though NPA ratio improved.
The public sector bank had registered a net profit of Rs 254.69 crore in the corresponding April-June quarter of 2017-18.
Total income rose to Rs 3,935.77 crore for the said quarter from Rs 3,510.11 crore a year ago, the bank said in a regulatory filing.
The gross non-performing assets (NPAs) of the bank fell to 6.19 per cent of the gross advances as on June 30, 2018 from a level of 7.3 per cent a year ago.
Likewise, net NPAs or bad loans were trimmed 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 as against Rs 6,812.21 crore a year ago.
Net NPA value was Rs 4,903.92 crore compared with Rs 4,784.26 crore a year ago.
Accordingly, the bank 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, provisions 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 at Rs 51.70 per scrip, up 3.71 per cent from the previous close.
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