Vijaya Bank Q3 net profit grows 43%

By: |
Bengaluru | Published: February 6, 2016 12:09:35 AM

Public sector lender Vijaya Bank on Friday reported a 43% year-on-year rise in its net profit at R53 crore for the third quarter ended December.

Public sector lender Vijaya Bank on Friday reported a 43% year-on-year rise in its net profit at R53 crore for the third quarter ended December.

In the same quarter a year ago, the bank’s net profit stood at R37 crore. The total income for the quarter was down by 2% to R3,237 crore, against R3,303 crore a year ago.

The rise in the net profit was due to a handsome growth in net interest income, which went up 33% to R738 crore from R555 crore in the year-ago period. The net interest margin improved to 2.44% from 1.88% year-on-year.

For the three months ended December 2015, the bank earned fee-based income of R122 crore, against R93 crore a year ago, showing a growth of 31.2%.

The operating profit for the quarter went up 26% to R443 crore as against R351 crore.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Switch to Hindi Edition