Mumbai: Dena Bank announced 12.9 percent growth in net profit to Rs 76.5 crore for the third quarter ended December 31, 2014, despite surge in bad loans.
Net profit in the same quarter last year stood at Rs 67.8 crore. Total income has increased to Rs 2,867.32 crore for the quarter from Rs 2,662.80 crore for the quarter ended December 31, 2013, Dena Bank Chairman and Managing Director Ashwani Kumar said here. Gross NPAs as a percentage to total advances rose significantly to 5.61 percent from 2.96 percent in the same quarter an year ago. Net NPAs went up to 3.97 percent from 2 percent at the end of December 2013.
Total provisions, excluding for income tax, declined to Rs 241.33 crore as against Rs 382.43 crore in the year-ago period. During the quarter, total interest income has increased by 5.42 percent to Rs 2,671.11 crore from Rs 2,533.84 crore in the same period a year ago. Non-interest income was at Rs 196.21 crore as compared to Rs 128.96 crore, an increase of 52.15 percent.
