Syndicate Bank today recorded a 63 per cent rise in net profit to Rs 207 crore for the fourth quarter ended March 31, 2009 as compared to Rs 126 crore in the corresponding period last year.
Net profit rose mainly on account of the increase in other income, including fee-based income, profit from sale of investments, that went up by 50 per cent to Rs 363.3 crore during the quarter.
The banks’ total Income went up from Rs 2,376.4 crore for the quarter ended March 31, 2008 to Rs 2,875.7 crore for the quarter ended March 31, 2009.
The net non-performing assets of the bank declined from 0.97 per cent to 0.77 per cent at the end of the fourth quarter of the last financial year.
Shares of the lender were trading at Rs 57.40 down 0.43 per cent on Bombay Stock Exchange.
