Vijaya Bank net down 12 percent in Q1

State-run Vijaya Bank on Thursday reported net profit of Rs.143 crore for first quarter of 2015-16 as against Rs.162 crore in same period of 2014-15, registering a 12 percent decline.

In a regulatory filing to the Bombay Stock Exchange, the city-based bank said its total income for Q1 under review marginally increased 3 percent to Rs.3,289 crore from Rs.3,190 crore in same period year ago.

Sequentially, net profit, however, zoomed 47 percent from Rs.97 crore but total income declined 3.4 percent from Rs.3,406 crore posted in the last quarter of 2014-15.

Provisioning excluding tax for Q1 shot up 55 percent to Rs.146 crore from Rs.94 crore year ago but declined 52 percent from Rs.306 crore last quarter.

Gross non-performing assets (NPA) increased 39 percent to Rs.2,871 crore from Rs.2,069 crore year ago and 18 percent sequentially from Rs.2,443 crore last quarter.

Similarly, net NPA increased 53 percent to Rs.2,058 crore from Rs.1,347 crore last fiscal and 24 percent sequentially from Rs.1,660 crore last quarter.

In ratios, gross NPA increased to 3.39 percent from 2.68 percent year ago and 2.78 percent quarter ago, while net NPA increased to 2.45 percent from 1.77 percent year ago and 1.92 percent quarter ago.