Thursday, July 26, 2012

State Bank of Mysore Q1 net dips 38%


Bangalore, July 25:  State Bank of Mysore posted 38 per cent lower net profit for the April-June quarter at Rs 39.79 crore (against Rs 64.28 crore a year ago), mainly due to higher provisioning.
 
Total income rose 33 per cent over last year to Rs 1,566.7 crore (Rs 1,176.26 crore). Operating profit was Rs 298.57 crore (Rs 255 crore). Interest income grew 22 per cent to Rs 1435 crore.
 
In a stock exchange filing, the bank said it had made an NPA provisioning of Rs 196.9 crore during the quarter, which was well above the Rs 100 crore it provided for a year ago. Gross NPA was at 4.67 per cent (Rs 2.83 per cent) and net NPA 2.43 per cent (1.42 per cent).

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