Bangalore, July 31 - State-run Syndicate Bank posted a net profit of Rs.262 crore for the first quarter this fiscal, registering a whopping growth of 198 percent year-on-year from Rs.88 crore in the like period last year.

'We have nearly trebled our net profit in the first quarter on a healthy 16.4 percent growth in net interest income (NII) to Rs.586 crore from Rs.503 crore a year ago and better management of treasury operations,' bank executive director V.K. Nagar told reporters here Friday.

Taking advantage of the opportunities in the debt market, the bank boosted its other income to Rs.416 crore from Rs.147 crore, with treasury income accounting for Rs.270 crore as against Rs.28 crore a year earlier.

Income from commission and exchange, however, declined marginally to Rs.60 crore from Rs.63 crore, while miscellany income went up to Rs.86 crore from Rs.53 crore.

'We have earned Rs.223 crore from the sale of government securities and the balance (Rs.