Vijaya Bank reports fourfold jump in net profit; gross NPAs drop QoQ

NEW DELHI: Vijaya Bank on Thursday reported over fourfold jump in net profit for the December quarter.

For the quarter under review, the company reported a standalone net profit of Rs 230.28 crore compared with Rs 52.61 crore in the same quarter last year.

Interest earned for the quarter came in at Rs 3,137.07 crore, up 3.59 per cent YoY from Rs 3,028.26 crore in the year-ago quarter.

Vijaya Bank reported an operating profit of Rs 686.43 crore for the quarter ended December 31, 2016 compared with Rs 442 crore in the year ago-quarter.

Gross non-performing assets (NPAs) fell to 6.98 per cent at the end of Q3FY17 compared with 7.07 per cent in Q2FY17 but was higher than 4.32 per cent in the corresponding quarter of last year.

The stock was trading at Rs 63.00 on NSE up by 17.87 per cent.