State Bank of Mysore reported 30 percent jump in net profit to Rs 131.98 crore for the July-September quarter on the back of fall in NPAs as well as lower provisioning for bad loans and contingencies. The bank had posted a net profit of Rs 101.90 crore for the July-September quarter of 2014-15 fiscal. Total income of the bank during the quarter under review increased to Rs 1,969.96 crore from Rs 1,900.52 crore in the year-ago period, it said in a BSE filing.
Provisioning was lower at Rs 116.40 crore during the quarter under review than Rs 216.56 crore in the year-ago period. On asset-quality front, gross NPAs or bad loans were 4.19 percent of gross advances as of September 30, 2015, as against 5.07 percent in the same period a year ago. Net NPAs too improved as their percentage as net advances were 2.22 percent during the second quarter, down from 2.94 percent a year earlier.
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