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Home >Companies >ING Vysya Q3 profit falls 13% to Rs145.69 crore
Provisions and contingencies for the fiscal third quarter rose 167.32% to `61.51 crore compared with `23.01 crore a year ago. Photo: Pradeep Gaur/Mint
Provisions and contingencies for the fiscal third quarter rose 167.32% to `61.51 crore compared with `23.01 crore a year ago. Photo: Pradeep Gaur/Mint

ING Vysya Q3 profit falls 13% to Rs145.69 crore

The bank's profit was lower than the median estimate of `194.7 crore by 13 analysts in a 'Bloomberg' poll

ING Vysya Bank Ltd on Wednesday said net profit in the three months ended December fell 13% to 145.69 crore from 167.34 crore in the year-ago period due to higher provisions and a drop in other income.

The bank’s profit was lower than the median estimate of 194.7 crore by 13 analysts in a Bloomberg poll.

Provisions and contingencies for the fiscal third quarter rose 167.32% to 61.51 crore compared with 23.01 crore a year ago. Other income fell 4.2% from a year ago to 205.56 crore.

Net interest income, or the difference between interest earned on loans and that paid for deposits, increased 18.15% to 491.65 crore from 416.12 crore last year.

Net non performing assets rose to 0.66% versus 0.42% last year.

ING Vysya’s shares closed at 978.20 on BSE, up 0.09%, while India’s benchmark Sensex rose 0.36% to 28,888.86 points.

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