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Syndicate Bank reports 38% fall in Q1 net profit

28 Jul 2015 Evaluate

Syndicate Bank has reported results for first quarter ended June 30, 2015.

The bank has reported 37.79% fall in its net profit at Rs 301.98 crore for the quarter as compared to Rs 485.42 crore for the same quarter in the previous year. However, total income of the bank has increased by 14.49% at Rs 6323.42 crore for quarter under review, as compared to Rs 5523.08 crore for the quarter ended June 30, 2014.

The bank’s gross non-performing assets (NPA) for the April-June quarter of the current fiscal has increased to 3.72%, as compared to 2.97% in previous quarter. Besides, bank’s Net NPA stood at 2.36% in Q1FY16.

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