State Bank of Travancore's net profit in the third quarter ended December 31 of FY14 plunged by nearly 88.8 per cent to Rs 14.76 crore on higher provisioning and rising bad loans.
Bank's net profit during corresponding October-December quarter of previous fiscal stood at Rs 131.99 crore.
Total income of the bank during the third quarter of 2013-14 stood at Rs 2,601.99 crore, up from Rs 2,297.16 crore a year earlier, it said in a filing to the BSE today.
Provisioning towards bad loans and contingencies were raised to Rs 215.64 crore from Rs 124.27 crore a year earlier.
The net bad loans or Non-Performing Assets (NPAs) rose to 2.73 per cent in the third quarter from 1.83 per cent a year ago.
Gross NPAs were at 4.41 per cent versus 3.04 per cent in the corresponding quarter of previous fiscal.
Shares of the bank today ended at Rs 407.15 apiece on the BSE, up 0.3 per cent higher from previous close.
