Vijaya Bank Q2 net profit drops 39%

The total income for the period went up by 9.6% to Rs 2,301.72 cr as against Rs 2,098.33 cr reported in the same period last year

Bangalore-based public sector lender Vijaya Bank on Monday reported a 39.38 per cent drop in net profit to Rs 123.37 crore for the second quarter ended September compared with Rs 203.53 crore reported in the corresponding quarter last year.

Total income for the period went up 9.6 per cent to Rs 2,301.72 crore as against Rs 2,098.33 crore reported in the same period last year. Operating profit declined 36.9 per cent to Rs 214 crore as against Rs 339.48 crore in the year-ago period. Net interest income declined 12.3 per cent to Rs 449.96 crore as against Rs 513.35 crore in the same quarter last year. Provisions and contingencies towards bad loans went up 11.8 per cent to Rs 106 crore as against Rs 95.6 crore in the same period last year.

Return on assets declined to 0.51 per cent from 0.95 per cent in the same period last year. Net non-performing assets went up to 1.90 per cent from 1.42 per cent in the year-ago period.

Capital adequacy ratio under Basel-II improved to 12.70 per cent from 12.63 per cent in the year-ago period.