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Corporate May 11, 2013

Dena Bank’s net profit halves to Rs 125.67 crore

By Arun George

New Delhi: Public sector lender Dena Bank's profit more than halved to Rs 125.67 crore in the quarter ended March 31 of 2012-13 due to higher provisioning and contingencies.

The bank had reported net profit of Rs 254.79 crore over the same period (January-March) of the previous fiscal 2011-12.

Bank's provisioning and contingencies rose to Rs 341.95 crore in the quarter ended March 2013 from Rs 291.11 crore over the previous quarter a year ago.

Reuters

Reuters

Total income of the bank during the quarter under review (January-March) rose to Rs 2,539.74 crore from Rs 2,166.36 crore a year earlier.

For the full fiscal 2012-13, the net profit of the bank rose marginally to Rs 810.38 crore from Rs 803.14 crore in 2011-12.

Total income during the year rose to Rs 9,554.85 crore from Rs 7,376.30 crore.

Shares of the bank closed at Rs 93.90 apiece on the BSE on Friday, up 0.91 per cent from their previous close.

PTI

by Arun George

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