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Syndicate Bank has registered a net profit of Rs.178 crore for the second quarter of 2009-10 fiscal which ended on Sep 30, witnessing a 32% dip from the Rs.262 crore reported during the similar period previous fiscal.
The total income of the Bank stood at Rs.2,821 crore for the Q2 of this fiscal as against the Rs.2,527 crore registered during corresponding period last fiscal, recording a 12% YoY growth.
The bank has mentioned that the operation profit dipped by 5.2% to be notched at Rs.443 crore as against previous year’s Rs.458 crore.
"A decline of 17.3 percent YoY in net interest income to Rs.618 crore and an increase of 42 percent YoY in provisions to Rs.195 crore from Rs.138 crore year ago, reduced the net profit for the quarter," the bank said in a statement later.
