New Delhi: Vijaya Bank on Monday reported a rise of 1.6 per cent in net profit at Rs 207.31 crore for March quarter, 2017-18.
The public sector bank had registered a net profit of Rs 203.99 crore in the January-March quarter of 2016-17.
Total income during the quarter grew to Rs 3,728.22 crore as against Rs 3,504.73 crore in the year- ago period, the bank said in a regulatory filing. Provisioning for bad loans for the quarter was higher at Rs 552.91 crore as against Rs 344.56 crore in March quarter of 2016-17.
For entire 2017-18, the net profit of the lender however came down to Rs 727.02 crore from Rs 750.48 crore. Income during the year was slightly up at Rs 14,190.45 crore from Rs 14,030.72 crore in 2016-17.
Asset wise, bank's gross non-performing assets (NPAs) reduced to 6.34 per cent of the gross loans at the end of March 2018 from 6.59 per cent as on March end-2017.
In value terms, gross NPAs stood at Rs 7,526.09 crore by the end of 2017-18 as compared to Rs 6,381.78 crore earlier. Net NPAs were also trimmed to 4.32 per cent of the net loans (Rs 5,021.24 crore) from 4.36 per cent (Rs 4,118.16 crore).
The provision coverage ratio as on March 31, 2018 works out to 59.39 per cent (previous year 58.15 per cent), the bank said.
The board of directors has recommended dividend of Rs 1.20 per share at 12 per cent for 2017-18, it said. Stock of Vijaya Bank traded at Rs 61 on BSE, up 1.92 per cent from previous close.
