State Bank of Mysore Q3 net down 45% at Rs 85 crore

Image
Press Trust of India New Delhi
Last Updated : Jan 29 2014 | 4:56 PM IST
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.
Shares of the bank closed down by 0.27 per cent at Rs 410.35 apiece on the BSE today.
*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Jan 29 2014 | 4:56 PM IST

Next Story