New Delhi: On 6th May, SBI associate bank State Bank of Bikaner & Jaipur has registered 18 percent rise in its net profit at Rs 280.25 crore in the last quarter ended March 2015.
The net profit rose on higher income from investments along with cut in provisioning towards bad loans as the ratio of non-performing assets dropped.
The bank had posted a net profit of Rs 237.63 crore in the same quarter of previous fiscal.
The bank's total income during the quarter under review rose by 7.36 percent to Rs 2,634.66 crore from Rs 2,453.94 crore in the previous fiscal, it said in a filing to the BSE.
Income on investments rose to Rs 486.62 crore during the fourth quarter of 2014-15 as against Rs 399.63 crore a year ago.
The bank made provisioning of Rs 237.63 crore towards bad loans and contingencies during the fourth quarter of 2014-15, while it was at Rs 242.44 crore in the corresponding period of previous fiscal.
On the asset quality front, the bank's gross NPAs as a percentage of gross advances fell to 4.14 per cent as against 4.18 percent a year ago.
Similarly, net NPAs or bad loans were trimmed to 2.54 percent of net advances, over 2.76 per cent in the previous fiscal's last quarter.
State Bank of Bikaner & Jaipur scrips closed 0.59 per cent down at Rs 563.70 apiece on the BSE.
