State Bank of Mysore (SBM) today reported 45 per cent decline in net profit at Rs 85.14 crore for the third quarter ended December 31 on higher provisioning.
The state-owned bank’s net profit over the corresponding period (October-December) of 2012-13 stood at Rs 154.77 crore.
The bank had made provisioning of Rs 132.82 crore for the third quarter of 2013-14, up from Rs 58.85 crore in the year ago period, it said in a regulatory filing to the BSE.
Total income of the bank during the quarter stood at Rs 1,730.34 crore, up from Rs 1,616 crore a year ago.
Net bad loans or Non-Performing Assets (NPAs) of the bank rose to 4.21 per cent (Rs 1,889.04 crore) from 1.95 per cent (Rs 842.46 crore) in the year ago period.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.