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Vijaya Bank Q4 Net Profit Down 39 Per Cent at Rs. 136 Crore

Vijaya Bank on Tuesday reported a 39.3 per cent decline in net profit at Rs. 135.84 crore for the fourth quarter that ended in March, 2014.

The state-owned lender had posted a net profit of Rs. 224.15 crore for the corresponding quarter a year ago, it said in a filing to the BSE.

Total income increased to Rs. 3,029.34 crore in the quarter under review, as against Rs. 2,680.20 crore a year ago.

For the entire 2013-14, the bank’s net profit slipped by 28.8 per cent to Rs. 416.91 crore, compared to Rs. 585.61 crore in the previous fiscal year.

However, total income of last fiscal year jumped to Rs. 11,416.42 crore from Rs. 9,658.88 crore in 2012-l3.

As far as asset quality of the bank is concerned, gross non-performing assets (NPAs) as a percentage to total advances rose to 2.41 per cent from 2.17 per cent in the same quarter a year ago.

Net NPAs also increased to 1.55 per cent from 1.30 per cent at the end of March 2013.

The bank’s board has proposed a final dividend of 10 per cent or Re 1 per share of face value of Rs. 10 for 2013-2014.

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