New Delhi: Public financial service provider Vijaya Bank on Thursday posted a rise of 20 per cent in net profit at Rs 185.46 crore for the July-September quarter concluded due to lower expenses. It is one of the nationalized banks in India.
The public service provider bank reported net profit of Rs 154.55 crore in the subsequent quarter of 2016-17 fiscal. The bank officials further stated in a regulatory filing that the total income drops to Rs 3,501.31 crore for September quarter from Rs 3,516.57 crore in previous year.
Total expenditure also decreased 6.05 per cent to Rs 2,767.35 crore for September quarter from Rs 2,945.7 crore in a year before.
The gross non-performing assets (NPAs) of the bank drop to 7.06 per cent of the gross advances for September from 7.07 per cent of previous year.
Net NPAs or bad loans reduced to 4.86 per cent as a percentage of net loans for September from 5.1 per cent former. Stocks of Vijaya Bank were dealing 0.08 per cent downward at Rs 66 on BSE.