Abbott India Q4 net dips 29 pc to Rs 42 cr

Representational Image

The state-owned bank had in contrast registered standalone net profit of Rs 1,263.81 crore in the fourth quarter of the previous fiscal, 2015-16.

Net interest income rose 17.3 per cent from a year earlier to Rs 18,071 crore in the March quarter.

Gross NPA as percentage of total advances was 6.9% as on 31 March 2017, as compared to 7.23% in the preceding quarter and 6.5% in the year-ago quarter.

The bank's net interest income rose by 17.33 per cent to Rs 18,071 crore in the last quarter of the last fiscal from Rs 15,401 crore in the corresponding period of previous fiscal.

For the full fiscal, total income increased by 9.2% to Rs 2,98,640.45 crore from Rs 2,73,461.13 crore at the end of 2015-16.

Shares of Abbott India today closed at Rs 4,194.95 per scrip on BSE, down 0.24 per cent from its previous close.

On an absolute basis, however, gross bad loans increased to 1.12 trillion rupees at end-March from 1.08 trillion rupees in December.

Sharapova says she'll 'rise up again' after French Open snub
Eyebrows were raised when she was not announced for the Main Draw, but when she was not mentioned in the Qualification. Regardless of the rhetoric, the fact is, the 2-time champion Sharapova will not be at the French Open this year.

Its net profit for the quarter increased by 7.8 per cent to Rs.2814 crore in Q4FY17 versus Rs.2610 crore in th previous quarter.

"The bank on a solo basis has done very well despite a hard quarter". Higher provisions on account of costs associated with the merger have taken a toll on the consolidated results.

In the past two years, SBI Chairman Arundhati Bhattacharya has been grappling with slowing loan expansion and mounting bad loans, the key stumbling blocks to profit growth in the Indian banking industry.

She said the bank would be very selective in corporate lending and the lending would depend on region, sector and credit rating, among others.

The provision coverage ratio for the quarter stood at 65.95 per cent compared with 62.87 per cent in December quarter. The bank's net NPA ratio stood at 8.92%, compared with 6.76% for the same period a year ago. The impact on profit would not be much. For the year ending March 31, 2017, the net interest margin improved to 3.70 per cent from 3.43 per cent registered during year ago period.

Under Basel III, the Bank's Capital Adequacy Ratio stood at 11.14 pc with the Tier 1 capital at 8.94% as on 31st March, 2017. Retail loans constituted 22 per cent of the loan amount contributed by auto and home loans.

Related News:

  • Watch Three Wonder Woman Movie Clips

    Watch Three Wonder Woman Movie Clips

    Joining Gadot in the worldwide cast are Chris Pine, Robin Wright, Danny Huston , David Thewlis, Connie Nielsen. There's nothing groundbreaking here, but let's consider the "is Wonder Woman a feminist" question settled.

    Arsenal fighting to stave off Champions League 'disappointment'

    On Sunday, Liverpool welcome relegated Boro to Anfield while Arsenal host Everton and City travel to Watford . We need to fight for this club and don't think about what is happening with the boss or the players.
    Toyota, 3 other automakers settle suit over Takata air bags

    Toyota, 3 other automakers settle suit over Takata air bags

    Part of the settlement money will be used to encourage consumers whose cars are under recall to bring them to dealers for fix . In January, the company pleaded guilty to corporate criminal charges and agreed to pay a $1 billion fine.
  • Civil rights lawyer poised to be Philadelphia DA

    Civil rights lawyer poised to be Philadelphia DA

    He has defended Black Lives Matter and Occupy Philadelphia protesters and has defended death penalty cases for a quarter century. After his nomination, McNesby told Philly.com Krasner "would be catastrophic to the police department and the community".
    Netanyahu against Abbas:

    Netanyahu against Abbas: "He didn't speak the truth"

    The tweet about Mahmoud Abbas that Donald Trump deleted after his meeting with the Palestinian leader at the White House. Trump stated that when he took office he was told by many that achieving peace would be an impossible task.
    Puerto Rico militant being freed from custody after 36 years

    Puerto Rico militant being freed from custody after 36 years

    He was never tied to any specific bombing, but he was convicted on a number of charges including seditious conspiracy. Lopez Rivera received an additional 15 years on his sentence over an escape attempt. (AP Photo/Ed Bailey, File).
  • Asus ZenFone AR confirmed to arrive this summer

    Asus ZenFone AR confirmed to arrive this summer

    The company recently announced more than 2 million students have already taken virtual field trips using its Cardboard VR headset. No pricing or specific release date beyond "summer" is being announced at this time.

    Michael Flynn and other campaign staffers made multiple calls to Russians

    It was not clear with whom he spoke but the sources said the topics discussed were also about improving US-Russian cooperation. Hell, by now, Trump's posse has probably had more contact with Russia's government than Trump has with his daughter Tiffany.

    3-way race for final Champions League places in EPL

    The prize for winning the league is £38m, but even bottom club Sunderland will still be paid nearly £2m just for taking part. It means that very few clubs have nothing to play for.
  • 5 people hospitalized after eating gas station nacho cheese

    5 people hospitalized after eating gas station nacho cheese

    Investigations are ongoing as to what caused the illness, but officials are now putting it down to a batch of nacho cheese. Reports state that the Sacramento health officials are also looking into four cases which may be linked with these cases.

    Harden, James top All-NBA team; George, Hayward shut out

    He averaged a league-leading 31.6 points to go with 10.7 rebounds (10th in the NBA) and 10.4 assists (third in the NBA). Players who received votes at multiple positions were slotted at the position where they received the most votes.
    Deepika Padukone wins the Cannes red carpet in a stunning bold dress

    Deepika Padukone wins the Cannes red carpet in a stunning bold dress

    Three Bollywood divas are expected at the Cannes 2017 red carpet - Deepika Padukone, Sonam Kapoor and Aishwarya Rai-Bachchan. Deepika Padukone at Cannes 2017; with Elle Fanning, Julianne Moore and Susan SarandonTwitter_L'Oréal Paris India‏.


Most liked

Running Windows? How to protect against the big ransomware attack
Q: Should we expect other cyberattacks like this in the future? That means you can't train your way out of this. What was going on? That way even if you're hit with ransomware you've got all your files protected elsewhere.

Djokovic beats Bautista Agut to reach Italian Open QFs
The Austrian fought off a double match point at 4-6 in the tiebreaker, then thwarted a third match point at 6-7 before surviving. World number two Novak Djokovic beats Roberto Bautista Agut 6-4 6-4 in the last 16 of the Italian Open.

Lexi Thompson opens 3-stroke lead at Kingsmill
It's always nice to walk out of your room and the 9th hole is right there and you can walk out to the putting green. Sagstrom ended her 2nd round with a 68 and goes into the weekend at 4-under par.

Tom Brady gets $212k endorsement deal with Aston Martin
As part of his multiyear agreement, Brady will drive and pitch the DB11, which could be yours for a cool $211,995. No word on whether Brady's special-edition design comes with the five-time Super Bowl victor lounging on the hood.

Young Boy Found Dead Inside Mother's Stolen Car
Eighteen-year-old Dwan Wakefield was taken into custody in connection to the crime, according to media outlets in Jackson. Frazier was last seen wearing a white tank top, khaki shorts and gold Jordan tennis shoes.

Trusts were told about security patch last month — NHS cyberattack
On Monday and Tuesday issues still remained and blood tests at the four hospitals are "unavailable until further notice". It has been a very strong response", she said.

Tornadoes touch down in Oklahoma, Texas no injuries reported
The high winds during a tornado can rip a mobile home, which frequently would not have a foundation, from its moorings. The next email will be sent Friday morning concerning the severe threat on Friday and storms over the weekend.

School bus flips in hit-and-run crash; 16 taken to hospital
According to hospital officials, three students suffered traumatic injuries and the others suffered less severe injuries. A driver in a sedan attempted to pass the oversize load and struck one of the escort cars, which then struck the bus.

Cornyn says he will stay in Senate, won't be FBI director
If he had been chosen, it would have created political upheaval in Texas with both parties fighting for his Senate seat. Finally, the Senate Foreign Relations Committee will hold a hearing on the nomination of former Republican Sen.

Goods and Services Tax Bill
He said the common people would have many benefits of the GST because it would decrease the cascading effect of taxes. As widely reported, essential items have either been kept out of the purview of the tax or assigned the lowest rate.

Freddie Freeman the one player Braves' couldn't afford to lose
Teheran pitched like a No. 1 starter in his last start at Miami on Saturday, when he threw six shutout innings in a 3-1 victory. Pearce left the 3-2 win over the Seattle Mariners Sunday in the second inning after sliding into second base with a double.

Representative: Rocker Chris Cornell has died at age 52
A Seattle native, Cornell came to prominence in the grunge scene in the early '90s after forming Soundgarden in 1984. Cornell referenced death - and suicide - in 2007 interview with the AP when discussing his single, "No Such Thing".

With Merkel and PM, France's new president wastes no time
Macron won the May 7 election with a resounding 66% of the vote, but his mandate may not be as strong as those numbers suggest. Shares in state-controlled utility EDF EDF.PA , which produces mostly nuclear power, closed down 6.5 percent on the news.

Gisele Bündchen's revelation about Tom Brady's concussions prompts a conspiracy theory
She did not specify when Brady suffered a concussion or whether it was medically diagnosed and was not asked a follow-up question. I don't really think it's a healthy thing for your body to go through, through that kind of aggression, like, all the time.

Police investigating death of man who fell at Wrigley Field
However, his wife was not with him at the time of the fatal fall as she first attempted to call him after the game. The thoughts and prayers of our organization are with his family during this hard time.