Vijay Bank reports jump in net profit for fourth quarter

New Delhi: State-owned Vijaya Bank today reported a nearly three-fold jump in net profit to Rs 204 crore for the fourth quarter ended March 31, 2017. The bank had posted a net profit of Rs 71.31 crore in the January-March quarter of 2015-16 fiscal, Vijaya Bank said in a regulatory filing.

Total income of the bank rose to Rs 3,504.73 crore in the January-March quarter as against Rs 3,228.48 crore in the year-ago period. The board of the directors of the company have recommended a dividend of Rs 1.50 per share or 15 per cent for 2016-17.

For entire 2016-17 fiscal, the bank's net profit nearly doubled to Rs 750.45 crore as compared to Rs 381.80 crore in the previous fiscal.

The total income also rose to Rs 14,030.72 crore during the fiscal from Rs 12,957.44 crore in 2015-l6. As far as asset quality of the bank is concerned, the gross NPAs as a percentage of total advances declined marginally to 6.59 per cent from 6.64 per cent in the same quarter a year ago. Its net NPAs also eased to 4.35 per cent as against 4.81 per cent at the end of March 2016.