Syndicate Bank slips on reporting 75% fall in Q2 net profit
The Bank has reported 75.20% fall in its net profit at Rs 82.42 crore for second quarter ended September 30, 2016 as compared to Rs 332.37 crore for the same quarter in the previous year. Total income of the Bank decreased by 1.43% at Rs 6574.93 crore for the quarter under review as compared Rs 6670.19 crore for the corresponding quarter previous year.
The Bank’s gross NPA for the July-September quarter of the current fiscal increased sharply to 7.72% as compared to 3.72% in the same quarter of the previous year. Besides, Bank’s Net NPA stood at 5.03% in Q2FY17.
