Bank of Rajasthan (BoR) has posted a 84.3 per cent drop in its net profit for the fourth quarter ended March 2009 at Rs 2.93 crore as against a profit of Rs 18.70 crore a year ago due to pressure on margins and higher provisions for employee expenses.
Its total income for the reporting quarter rose to Rs 380.51 crore from Rs 315.42 crore in the same period in 2007-08, bank said in a filing with the Bombay Stock Exchange.
Its net interest income (NII) fell to Rs 82.98 crore from Rs 84.88 crore. Its provisions, including employee expenses for the Q4 rose to Rs 13.44 crore from Rs 6.31 crore. The board has recommended a dividend of two per cent for 2008-09.
Its net profit for 2008-09 rose marginally to Rs 117.71 crore from Rs 115.19 crore a year ago. The total income rose to Rs 1,507.22 crore from Rs 1,176.4 crore for 2007-08. Its total business comprising deposits and advances has crossed over Rs 23,000 crore at end of March 2009 as compared to Rs 21,378 crore a year ago, the bank said in a statement.
Its gross non-performing assets (NPA) rose to Rs 160.91 crore (2.04 per cent) from Rs 126.19 crore (1.68 per cent). The net NPAs moved up to Rs 57.02 crore (0.73 per cent) from Rs 30.89 crore (0.42 per cent). Its capital adequacy stood at 11.50 per cent at the end of March 2009.