Bank's net profit in the same quarter of last fiscal, 2014-15, was at Rs 81.52 crore. The steep fall was attributed to a sharp rise in Non Performing Assets (NPAs) and consequently a higher allocation towards provisioning.

Its income increased marginally by 3.2 percent to Rs 2,914.87 crore in the first quarter of 2015-16, as against Rs 2,824.58 crore in the year-ago period, Dena Bank said in a BSE filing. The asset quality deteriorated further as gross NPAs or bad loans shot to 6.2 percent of gross advances during the quarter under review as against 4.21 percent a year ago.

Its net NPAs too rose further to 4.24 percent from 2.94 percent of net advances. Thus, the provision towards bad loans and contingencies was raised by over 42 percent to Rs 324.75 crore during the quarter, from Rs 228.06 crore a year ago. Dena Bank stock was trading 3.41 percent up at Rs 43.95 on the BSE.

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