PSU Vijaya Bank's net profit dips by 65.45% to `80 cr
24 Jan 2018 10:20 PM IST
Bengaluru: State-owned Vijaya Bank on Wednesday said it has reported 65.45 per cent decline in net profit at Rs 79.56 crore during the third quarter of the financial year ended on December 31, 2017, due to higher provisioning.
The bank had posted a net profit of Rs 230.28 crore in the October-December quarter of the 2016-17 financial year.
The bank's total income also declined 7.09 per cent to Rs 3,450.81 crore in the quarter under review from Rs 3,714.37 crore in the corresponding period last year.
"As far the bank's profitability is concerned Net profit we have recorded around Rs 80 crore," Vijaya Bank MD and CEO R A Sankara Narayanan said.
This was after fully providing for mark-to-market provision of Rs 276 crore in treasury segment, "but for that our profit would have been easily more than Rs 350 crore net for this current quarter," he told reporters here.
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