Moneycontrol News
Public sector lender Vijaya Bank's June quarter profit declined 43 percent year-on-year to Rs 144.3 crore, dented by higher provisions.
Profit in corresponding period last fiscal was at Rs 254.7 crore.
Net interest income during the quarter grew by 27.9 percent to Rs 1,207 crore compared to Rs 944 crore in same period last year.
Asset quality was better in Q1FY19. Gross non-performing assets as a percentage of gross advances were lower at 6.19 percent against 6.34 percent in previous quarter and net NPAs also declined at 4.10 percent against 4.32 percent QoQ.
Provisions for bad loans for the quarter stood at Rs 659.4 crore, which increased 18.5 percent compared to March quarter and shot up 55.8 percent compared to same period last year.
In absolute terms, gross NPAs were up 0.7 percent sequentially at Rs 7,579 crore but net NPAs declined 2.3 percent to Rs 4,904 crore for the quarter ended June.
At 12:45 hours IST, the stock price was quoting at Rs 51.00, up Rs 1.15, or 2.31 percent on the BSE.
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