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Vijaya Bank on Monday reported a rise of 1.6 per cent in net profit at ₹207.31 crore for March quarter, FY18.
The public sector bank had registered a net profit of ₹203.99 crore in the January-March quarter of 2016-17.
Total income during the quarter grew to ₹3,728.22 crore as against ₹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 ₹552.91 crore as against ₹344.56 crore in March quarter of 2016-17.
For entire 2017-18, the net profit of the lender however came down to ₹727.02 crore from ₹750.48 crore.
Income during the year was slightly up at ₹14,190.45 crore from ₹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 ₹7,526.09 crore by the end of 2017-18 as compared to ₹6,381.78 crore earlier.
Net NPAs were also trimmed to 4.32 per cent of the net loans (₹5,021.24 crore) from 4.36 per cent (₹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 ₹1.20 per share at 12 per cent for 2017-18, it said.
Stock of Vijaya Bank traded at ₹61 on BSE, up 1.92 per cent from previous close.
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