State-owned Allahabad Bank on Tuesday posted 68.5% decline in net profit at Rs 126.15 crore for the fourth quarter ended March 31, 2013 on account of rise in bad loans.
The bank had a net profit of Rs 400.22 crore in the same period last year, Allahabad Bank said in a filing to the BSE.
Gross non-performing assets (NPAs), as a proportion of advances, increased to 3.92% at the end of March 2013, against 1.83% in the previous fiscal. Net NPAs also rose to 3.19% during the year from 0.98% at the end of March 2012.
Total income of the bank rose to Rs 4,776.90 crore in January-March quarter compared to Rs 4,523.38 crore in the same period previous fiscal.
The Kolkata-based bank proposed a dividend of 60%, or Rs 6, per share for 2012-2013.
For the entire fiscal ended March 31, 2013, the bank's net profit declined 7% at Rs 1,185.21 crore, compared to Rs 1,866.78 crore in 2011-12.
Total income increased to Rs 18,912.60 crore during the year, compared to Rs 16,821.96 crore in the previous fiscal.