State Bank of Mysore has registered a 13 per cent rise in net profit for the December quarter on higher net interest income.
SBM reported a net profit of Rs. 96.16 crore for the quarter ended December 31, 2014, as against a net profit of Rs. 85.14 crore in the previous corresponding quarter.
The net interest income for the bank grew by a fourth to Rs. 116.53 crore.
Provisions for the quarter were up marginally at Rs. 135.99 crore as against Rs. 132.82 crore in corresponding last quarter.
The gross non-performing assets ratio came down to 5.09 per cent as against 6.56 per cent in the corresponding last quarter. The net NPA ratio also came down to 3.11 per cent as against 4.21 per cent.
SBM increased the provision coverage ratio to 62.08 per cent.
Tracking the results, the SBM shares fell 1.80 per cent to close at Rs. 570 on the BSE on Thursday.