Bengaluru July 23 (IANS) State-run Vijaya Bank on Monday reported a Rs 144 crore consolidated net profit for the first quarter (Q1) of fiscal 2018-19 posting a 44 per cent annual decline from Rs 255 crore in the same period a year ago.
Sequentially too net profit slipped 30 per cent from Rs 207 crore a quarter ago.
"Consolidated income for the quarter (Q1) under review however grew 11 per cent annually to Rs 3 936 crore from Rs 3 550 crore a year ago and 5.6 per cent sequentially from Rs 3 728 crore a quarter ago " said the city-based bank in a regulatory filing on the BSE.
Total income includes interest earned/discounted on advances and bills and investments on balance with the RBI and other bank funds.
The bank s operating profit grew 13 per cent annually to Rs 852 crore from Rs 753 crore a year ago but remained flat (0.9 per cent) sequentially from Rs 844 crore a quarter ago.
"Provisions shot up 56 per cent annually to Rs 659 crore during the quarter from Rs 423 crore a year ago and 19 per cent sequentially from Rs 556 crore a quarter ago " noted the filing.
Provisions for non-performing assets (NPAs) also went up 33 per cent annually to Rs 548 crore from Rs 411 crore a year ago but remained flat (-0.9 per cent) sequentially from Rs 553 crore a quarter ago.
Gross NPAs went up 11 per cent annually to Rs 7 579 crore from Rs 6 812 crore a year ago but remained flat (0.7 per cent) sequentially from Rs 7 526 crore a quarter ago.
Similarly net NPA increased 2.5 per cent annually to Rs 4 904 crore from Rs 4 784 crore but declined 2.3 per cent sequentially from Rs 5 021 crore a quarter ago.
The bank s scrip of Rs 10 face value gained a marginal Rs 2.20 per share to close at Rs 52.05 at the end of Monday s trading on the BSE after opening at Rs 50.90 as against Friday s closing price of Rs 49.85.

--IANS fb/mag/bg