State Bank of Mysore (SBM) today reported 45 per cent decline in net profit at Rs 85.14 crore for the third quarter ended December 31 on higher provisioning.
The state-owned bank's net profit over the corresponding period (October-December) of 2012-13 stood at Rs 154.77 crore.
The bank had made provisioning of Rs 132.82 crore for the third quarter of 2013-14, up from Rs 58.85 crore in the year ago period, it said in a regulatory filing to the BSE.
Total income of the bank during the quarter stood at Rs 1,730.34 crore, up from Rs 1,616 crore a year ago.
Net bad loans or Non-Performing Assets (NPAs) of the bank rose to 4.21 per cent (Rs 1,889.04 crore) from 1.95 per cent (Rs 842.46 crore) in the year ago period.
Shares of the bank closed down by 0.27 per cent at Rs 410.35 apiece on the BSE today.
