National
Vijaya Bank net up 20% in Q2
Bengaluru, Oct 27 (IANS) State-run Vijaya Bank has reported net profit of Rs 186 crore for the second quarter (Q2) of fiscal 2017-18, registering 20 per cent annual growth from Rs 155 crore in the same period year ago.
Sequentially, however, net profit declined 27 per cent from Rs 255 crore posted in the first quarter.
In a regulatory filing on the BSE on Thursday, the city-based bank said total income for the quarter under review (Q2) at Rs 447 crore was up 15 per cent from Rs 388 crore in the like period year ago.
Sequentially, total income declined 12 per cent from Rs 505 crore quarter ago.
“Operating profit increased 29 per cent yearly to Rs 734 crore in Q2 from Rs 571 crore in the same period year ago, but declined 2.5 per cent from Rs 753 crore quarter ago,” said the filing.
Provisions excluding tax went up 17 per cent annually to Rs 458 crore in Q2 from Rs 390 crore in like period year ago and 8.3 per cent sequentially from Rs 423 crore quarter ago.
“Provision for Non-Performing Assets (NPA) shot up 38 per cent annually to Rs 450 crore in Q2 from Rs 326 crore year ago and 9.5 per cent sequentially from Rs 411 crore quarter ago,” added the filing.
Gross NPA increased 2.4 per cent annually to Rs 6,647 crore in Q2 from Rs 6,491 crore year ago but declined 2.4 per cent sequentially from Rs 6,812 crore quarter ago.
Net NPA, however, declined 2.5 per cent annually to Rs 4,473 crore in Q2 from Rs 4,587 crore year ago and 6.5 per cent sequentially from Rs 4,784 crore quarter ago.
Gross NPA ratio dipped marginally to 7.06 from 7.07 year ago and 7.30 quarter ago, while net NPA declined to 4.86 from 5.1 year ago and 5.24 quarter ago.
“Net Interest Income went up 22 per cent to Rs 1,008 crore, while Net Interest Margin (NIM) improved 43 basis points to 3.04 per cent,” said the bank in a statement here later.
“The bank raised equity capital of Rs 700 crore through Qualified Institutional Placement (QIP) during the quarter,” added the statement.
–IANS
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National
Foodman Vishal Singh Honored for Hunger Free World Mission in Bangkok
Lucknow: Vishal Singh, a renowned social worker from Lucknow, also known as Foodman, has once again made India proud. He was honored by the Happy Hands Gloves Cooperative Limited Company in Korathai, Thailand, for his work with the Hunger Free World Mission.
The Hunger Free World Mission’s meeting was held in Korathai, Thailand, under Vishal Singh’s leadership. Representatives from several countries, including Mr. Raja Dwivedi (Managing Director of Happy Hands Gloves Limited), Thailand Coordinator Mr. Raja Mishra, and member Mr. Varun Singh, attended the event.
Under Vishal Singh’s leadership, the attendees took a pledge to work together toward creating a hunger-free world.
Speaking on the occasion, Vishal Singh explained that the main goal of the Hunger Free World Mission is social participation. He said the mission is not just about feeding people but also about meeting other basic needs of those who are struggling. The mission focuses on helping families of terminally ill patients in hospitals by providing food and shelter. It also works to fulfill essential needs like education, jobs, and care for the elderly.
For the last 16 years, the Vijay Sri Foundation has been providing free services, benefiting thousands of people. Vishal Singh highlighted that the mission aims to gain global recognition like other organizations such as WHO, WWF, and Red Cross, which work for social causes.
During this meeting, Vishal Singh was appointed as the Chairman of the Hunger Free World Mission by representatives from various countries. They also discussed holding regular meetings in different countries to push the mission forward.
Business tycoon Dr. Abhishek Verma has also supported this humanitarian mission, vowing to promote the idea of “Seva Parmo Dharma” (Service is the highest duty) worldwide. Vishal Singh praised him, stating that people like Dr .Abhishek Verma inspire others to work for the betterment of society.
Recently, Romania’s Ambassador, Mr . Daniela Sezonov Ţane, invited Vishal Singh to the Romanian Embassy in Delhi, where they discussed the mission in detail. Impressed by his humanitarian work, she honored Vishal Singh and invited him to Romania to take the mission forward .
Food man Vishal Singh has been serving the people of India for the past 16 years. Through the Vijay Sri Foundation, he provides free meals to cancer patients & their families ,shelter, and education for women & children along with running free old-age homes in Lucknow.
In addition to his humanitarian work, Vishal Singh also addresses issues like crime and corruption through his role as Chairman of Seva Path Media and Managing Director of Vijay Sri Foundation.
During the COVID-19 pandemic, Vishal Singh and his team worked tirelessly to provide food and help to the needy, including starving children, elderly citizens, and pregnant women. Despite contracting the virus himself, he continued to assist others after his recovery. He even created a life-saving oxygen regulator using household items, which was praised by doctors both in India and abroad.
In his address at the meeting, Vishal Singh spoke about his mission to create a hunger-free world. He pointed out that India’s large population, along with issues like unemployment and poverty, has caused the country to fall on the Hunger Index. He urged people to contribute just one handful of grains daily to help create a hunger-free world.
He concluded by saying that through social participation, we can empower the people around us, meet their basic needs, and work together to build a stronger, more prosperous, and developed society.