State Bank of Mysore Q4 Profit Down 23% at Rs 105 Crore

SBM\'s net profit in the corresponding quarter of 2014-15 stood at Rs 135.97 crore.

Published: 26th April 2016 03:50 PM  |   Last Updated: 26th April 2016 03:50 PM   |  A+A-


NEW DELHI: SBI associate State Bank of Mysore today reported a fall of 22.9 per cent in net profit at Rs 104.86 crore for the fourth quarter ended March 31, due to higher provisioning for employee cost and rising bad loans.

SBM's net profit in the corresponding quarter of 2014-15 stood at Rs 135.97 crore.

Total income of the bank was Rs 2,076.02 crore during the final quarter of 2015-16, slightly up from Rs 2,051.23 crore in the same period of the corresponding previous fiscal, SBM said in a regulatory filing.

Provisions and contingencies worth Rs 263.42 crore were parked aside during the quarter as against Rs 184.49 crore in the year ago period.

Bank's asset quality slipped further during the quarter with gross non-performing assets (NPAs) rising to 6.56 per cent of gross advances as on March 31, as against 4 per cent a year ago.

Likewise, net NPAs or bad loans were 4.18 per cent of the net advances, up from 2.16 per cent in the year ago period.

The amount of "Rs 14.28 crore has been provided against unhedged foreign currency exposure of the borrowers as on March 31, 2016. The bank during the year ended March has paid Rs 166.72 crore on account of wage arrears relating to the period from November 2012 to March 2015 out of provision of Rs 201.87 crore made in earlier years," it said.

For the full fiscal, bank's net profit fell 12.5 per cent to Rs 357.85 crore from Rs 408.80 crore profit registered during 2014-15.

Total income in the fiscal was at Rs 7,937.85 crore as against Rs 7,707.59 crore a year ago.

State of Mysore also informed that the Board of Directors in a meeting held today declared dividend of 60 per cent or Rs 6 per share.

Shares of the bank closed 1.57 per cent down at Rs 389.30 apiece on BSE.

Stay up to date on all the latest Business news with The New Indian Express App. Download now


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on are those of the comment writers alone. They do not represent the views or opinions of or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp