Bengaluru sources have stated that state-run Vijaya Bank has reported net profit of Rs 186 crore for the second quarter (Q2) of fiscal 2017-18, registering 20% annual growth from Rs 155 crore in the same period year ago.
Meanwhile sequentially, however, net profit declined 27% from Rs 255 crore posted in the first quarter. Moreover, in a regulatory filing on the BSE on Thursday, the city-based bank said total income for the quarter under review (Q2) at Rs 447 crore was up 15% from Rs 388 crore in the like period year ago. Sequentially, total income declined 12% from Rs 505 crore quarter ago.
As per the filing "Operating profit increased 29% yearly to Rs 734 crore in Q2 from Rs 571 crore in the same period year ago, but declined 2.5% from Rs 753 crore quarter ago". Gross NPA increased 2.4% annually to Rs 6,647 crore in Q2 from Rs 6,491 crore a year ago but declined 2.4% sequentially from Rs 6,812 crore quarter ago. Net NPA, however, declined 2.5% annually to Rs 4,473 crore in Q2 from Rs 4,587 crore a year ago and 6.5% sequentially from Rs 4,784 crore quarter ago.
According to the statement "Net Interest Income went up 22% to Rs 1,008 crore, while Net Interest Margin (NIM) improved 43 basis points to 3.04%," said the bank in a statement here later. "The bank raised equity capital of Rs 700 crore through Qualified Institutional Placement (QIP) during the quarter".
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