Syndicate Bank Q4 profit declines 31 pc to Rs 409 crore

State-owned Syndicate Bank today recorded a 31 per cent decline in net profit to Rs 409.3 crore in the fourth quarter ended March 31.

The bank had posted a profit of Rs 592.34 crore in the January-March quarter of 2012-13, according to Syndicate Bank filing to the BSE. Total income increased to Rs 5,357.40 crore from Rs 4,780.75 crore.

For 2013-14, net profit slipped 14.6 per cent to Rs 1,711.46 crore from Rs 2,004.42 crore in the previous financial year. Total income in 2013-14 rose to Rs 19,945.21 crore from Rs 18,295.05 crore in 2012-l3.

The bank's gross non-performing assets (NPAs) as a percentage of total advances rose to 2.62 per cent from 1.99 per cent in the same quarter a year ago.

Net NPAs increased to 1.56 per cent from 0.76 per cent at the end of March 2013.

The board of the bank proposed a final dividend of 30 per cent, or Rs 3, per share of face value of Rs 10 for 2013-2014.

Syndicate Bank shares fell 7.16 per cent to Rs 99.20 at the close on the BSE.

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