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Vijaya Bank Q3 net profit rises four-fold to Rs 230 cr

NEW DELHI, Feb 2:  State-owned Vijaya Bank has reported nearly four-fold jump in its net profit to Rs 230.28 crore for the third quarter ended December 31 despite rise in bad loans.
The bank had posted a net profit of Rs 52.61 crore in the October-December quarter of the 2015-16 fiscal, it said in a BSE filing today.
The bank’s total income rose to Rs 3,714.37 crore in the quarter under review from Rs 3,237.02 crore in the same period a year ago, Vijaya Bank said.
The bank’s gross non-performing assets (NPAs) rose to 6.98 per cent as against 4.32 per cent in the same quarter last fiscal.
Net NPAs rose to 4.74 per cent in the quarter under review compared to 2.98 per cent a year ago.
As a result, provision for bad loans have significantly increased to Rs 424.17 crore as against Rs 278.72 crore in the year-ago period. (PTI)

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