Vijaya Bank Q2 profit falls 39% to Rs 123 cr

State-owned lender Vijaya Bank  's net profit fell by 39 percent to Rs 123.4 crore in the second quarter of current financial year from Rs 203.5 crore in the corresponding quarter of last fiscal.

Net interest income went down by 12 percent Yoyo to Rs 450 crore during the same quarter.

Gross non-performing assets (NPAs) increased 32 basis points quarter-on-quarter to 3.17 in the three months period ended September 2012 while net NPAs rose by 23 basis points QoQ to 1.9 percent.

Provisions against bad loans declined to Rs 107 crore in the second quarter of FY13 from Rs 130.5 crore in the previous quarter. Capital adequacy ratio was 12.7 percent as against 13.18 percent during the same period.

The stock dropped as much as 4.56 percent to touch an intraday low of Rs 53.35.

Source: www.moneycontrol.com

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