ING Vysya Jan-Mar profit down 18 pct at Rs 139 cr

Apr 29 2014, 18:16 IST
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SummaryING Vysya has reported net profit of Rs 170.30 cr in the corresponding Jan-March qtr of 2012-13.

Private sector lender ING Vysya Bank's net profit declined by 18.3 per cent to Rs 139.11 crore for the fourth quarter ended March 31, 2014 due to rising bad loans and higher contingencies.

The bank has reported net profit of Rs 170.30 crore in the corresponding January-March quarter of 2012-13.

"The total income has increased from Rs 1,454.15 crore for the quarter ended March 31, 2013 to Rs 1,529.45 crore for the quarter ended March 31, 2014," it said in a filing to the BSE.

Bank's non-performing assets (NPAs) or bad loans rose to 0.28 per cent during the quarter under review, from 0.03 per cent a year-ago.

Gross NPAs were slightly up at 1.77 per cent during fourth quarter of FY 2014 from 1.76 per cent in the year-ago period.

For the full fiscal ended March 31, bank's net profit rose to Rs 657.92 crore from Rs 613.18 crore a year ago.

The total income of the bank increased from Rs 5,588.33 crore for the year ended March 31, 2013 to Rs 6,072.06 crore for the year ended March 31, 2014, it said.

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