Vijaya Bank reports 58% surge in Q1 net profit

Vijaya Bank has reported results for its first quarter ended June 30, 2011.

The Bank’s net profit for the quarter has declined by 58.37% at Rs 72.22 crore as compared to Rs 173.48 crore for the same quarter last year. Its total income increased by 21.92% to Rs 1853.40 crore for the quarter under review from Rs 1520.21 crore for the corresponding quarter of the previous year.

The bank’s capital adequacy ratio for Basel-I declined to 12.27% from 13.85% for Q1FY11 while, capital adequacy ratio for Basel-II decreased to 13.04% in the quarter under review as compared to 14.74% in the same quarter previous year.