According to reports, the PSU lender Vijaya Bank today experienced a 58% fall in its net profit to Rs 72.22 crore for the first quarter, which ended on the 30th of June 2011, as the bank already had a net profit of Rs 173.48 crore in the same period, last year.

However, Vijaya Bank stated: “Total income has increased to Rs 1,953.40 during the April-June quarter, from Rs 1,520.26 crore in the same period previous fiscal”, when filing the Bombay Stock Exchange, as shares of Vijaya Bank were sold at Rs 64.60 in the afternoon trade on the BSE, falling 4.79% from the previous close.

Andhra Bank is reported to have improvement in performance in the first quarter of the fiscal year than anticipated by the street, as its net profit surged 20.6% to Rs 386 crore in the first quarter over Rs 320 crore in the a similar quarter of the last fiscal year. Hence, the net interest income rose almost 24% to Rs 911 crore from Rs 736 crore yearly.

Moreover, it is reported that provisions in the April to June quarter was Rs 177 crore, which was a 240% increase against Rs 52 crore a year ago, as CNBC-TV18 poll experienced a net profit of Rs 298 crore along with a net interest income of Rs 841 crore.