Vijaya Bank on Friday said its net profit for the December quarter rose over three-fold to Rs 37.40 crore compared with the same period last year. The bank posted a net profit of Rs 11.39 crore in the corresponding quarter last year, while sequentially it has posted profit of Rs 143.75 crore.
Vijaya Bank’s net interest income for the quarter grew 12.14% y-o-y to Rs 554.80 crore. The bank’s total income grew 14.89% to Rs 3,303 crore from Rs 2,875 crore last year.
The bank’s total provisions (other than tax) and contingencies almost doubled to Rs 308.39 crore from Rs 159.41 crore last year. Bank’s ratio of net non-performing assets (NPAs) stood at 1.89% against 1.57% in the year-ago period and 1.88% in the July-September quarter. The net NPAs stood at Rs 1,476 crore at the end of the quarter.
Shares of Vijaya Bank closed at Rs 49.70, up 1.84% on BSE on Friday.