Syndicate Bank Q1 net dips 38% to Rs 302 crore

Public sector Syndicate Bank today reported a 38% decline in net profit at Rs 301.98 crore in the first quarter of current fiscal.

The bank had a net profit of Rs 485.42 crore in the April-June quarter of 2014-15 fiscal.

Total income increased to Rs 6,323.42 crore during the June quarter, from Rs 5,523 crore in the same period a year ago, Syndicate Bank said in a BSE filing.

Gross Non-Performing Assets (NPA) of the bank rose to 3.72% during the quarter, from 2.97% in the same period a year ago.

Interest income during the first quarter rose to Rs 5,823 crore, from Rs 5,067 crore in the same period a year ago.

Shares of Syndicate Bank were trading at Rs 96.50, down 2.62% over previous close on BSE.