New Delhi:Vijaya Bank on Monday reported a rise of 1.6% in net profit at Rs207.31 crore for March quarter, 2017-18.

The public sector bank had registered a net profit of Rs203.99 crore in the January-March quarter of 2016-17.

Total income during the quarter grew to Rs3,728.22 crore as against Rs3,504.73 crore in the year- ago period, the bank said in a regulatory filing.

Provisioning for bad loans for the quarter was higher at Rs552.91 crore as against Rs344.56 crore in March quarter of 2016-17.

For entire 2017-18, the net profit of the lender however came down to Rs727.02 crore from Rs750.48 crore. Income during the year was slightly up at Rs14,190.45 crore from Rs14,030.72 crore in 2016-17.

Asset wise, bank’s gross non-performing assets (NPAs) reduced to 6.34% of the gross loans at the end of March 2018 from 6.59% as on March end-2017.

In value terms, gross NPAs stood at Rs7,526.09 crore by the end of 2017-18 as compared to Rs6,381.78 crore earlier.

Net NPAs were also trimmed to 4.32% of the net loans (Rs5,021.24 crore) from 4.36% (Rs4,118.16 crore). The provision coverage ratio as on 31 March, 2018 works out to 59.39% (previous year 58.15%), the bank said.

The board of directors has recommended dividend of Rs1.20 per share at 12% for 2017-18, it said. Stock of Vijaya Bank traded at Rs61 on BSE, up 1.92% from previous close.

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