SBM net profit down 15.98% in third quarter

State Bank of Mysore registered a net profit of Rs 110.94 crore in the third quarter of 2011-12 against Rs 132.04 crore in the corresponding period of the previous fiscal, recording a decline of 15.98 per cent.

The net profit for the first nine months of the current financial year stood at Rs 253 crore as against Rs 336.79 crore in the corresponding period of the previous fiscal.

The net interest income of the bank during the third quarter stood at Rs 413.42 crore (Rs 443.79 crore).

However, ‘other income' of the bank registered a growth, at Rs 106.88 crore (Rs 97.17 crore).

Non-performing assets (NPAs) also increased during the quarter.

The gross NPA stood at 3.67 per cent (3.20 per cent), and net NPA, 1.73 per cent (1.47 per cent).

The provisions for NPAs amounted to Rs 60.81 crore (Rs 85.68 crore) during the quarter.

On Thursday, the scrip closed at Rs 520 on the BSE against the previous closing of Rs 528.65.

vinayakaj@thehindu.co.in