 "Vijaya Bank hits 52-week high post Q2 earnings")
Vijaya Bank has hit a 52-week high of Rs 46.60, up 16% on BSE in intra-day trade after the bank’s assets quality improved marginally for the quarter ended September 30, 2016 (Q2FY17) on sequential basis.
Gross non-performing assets (NPAs) as a percentage of total loans declined to 7.07% in Q2FY17 from 7.31% in Q1FY17. Net NPA stood at 5.10% against 5.42% in previous quarter. At Q2FY16, gross NPA and Net NPA stood at 3.98% and 2.84%, respectively.
Vijaya Bank has reported 34.8% year on year (YoY) jump in net profit at Rs 155 crore in Q2FY17, on back of higher other income. The bank had profit of Rs 115 crore in the year ago quarter.
Net interest income (NII), the difference between interest earned and interest expended increased by 19% YoY to Rs 828 crore. Other income doubled to Rs 388 crore from Rs 194 crore in previous year quarter.
Analysts on an average had expected profit of Rs 116 crore on NII of Rs 566 crore.
At 12:40 pm, the stock was up 8% at Rs 43.50 on BSE, as compared to 0.30% decline in S&P BSE Sensex. The trading volumes on the counter jumped an over 10-fold with a combined 5.75 million shares changed hands on NSE and BSE so far.
Gross non-performing assets (NPAs) as a percentage of total loans declined to 7.07% in Q2FY17 from 7.31% in Q1FY17. Net NPA stood at 5.10% against 5.42% in previous quarter. At Q2FY16, gross NPA and Net NPA stood at 3.98% and 2.84%, respectively.
Vijaya Bank has reported 34.8% year on year (YoY) jump in net profit at Rs 155 crore in Q2FY17, on back of higher other income. The bank had profit of Rs 115 crore in the year ago quarter.
Net interest income (NII), the difference between interest earned and interest expended increased by 19% YoY to Rs 828 crore. Other income doubled to Rs 388 crore from Rs 194 crore in previous year quarter.
Analysts on an average had expected profit of Rs 116 crore on NII of Rs 566 crore.
At 12:40 pm, the stock was up 8% at Rs 43.50 on BSE, as compared to 0.30% decline in S&P BSE Sensex. The trading volumes on the counter jumped an over 10-fold with a combined 5.75 million shares changed hands on NSE and BSE so far.
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