New Delhi: Private sector lender South Indian Bank on Friday reported 6.6% decline in net profit at Rs. 114.84 crore for the first quarter ended June 2013 .
The bank had posted net profit of Rs.123.04 crore during the same quarter (April-June) in the year ago period.
South Indian Bank’s total income during the first quarter of 2013-14 increased to Rs. 1,342.88 crore from Rs.1,144.41 crore a year earlier, it said in a regulatory filing to Bombay Stock Exchange (BSE).
Net non-performing assets, or bad loans, of the bank rose to 1.12% during the quarter, from 0.35% a year ago. Gross NPAs stood at 1.57% during the period under review, up from 1.08% during April-June 2012. Shares of the bank on Friday closed at Rs.23.10 apiece on the BSE, down 1.49% from the previous close.