State Bank of Bikaner and Jaipur (SBBJ) today reported 11.83 per cent rise in net profit in the first quarter ended June at Rs 187.52 crore on lower provisioning and contingencies.
The state-owned bank had posted net profit of Rs 167.69 crore during the same quarter (April-June) of the previous fiscal.
Total income of SBBJ in first quarter of 2013-14 rose to Rs 2,189.81 crore from Rs 1,986.10 crore a year ago.
In the first quarter,the bank had provisions and contingencies of Rs 162.23 crore,down from Rs 225.49 crore in 2012-13.
Bank’s net non-performing assets (NPAs) or bad loans during the quarter under review fell slightly to 2.27 per cent from 2.31 per cent in the same period for previous year.
Gross NPAs,however,were higher at 3.88 per cent from 3.71 per cent year ago.
Shares of the bank were quoting at Rs 390.65 apiece on the BSE in afternoon trade,up 2.98 per cent from their previous close.