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.