SBI Q3 net leaps by 52 pc at Rs 3,713.66 cr
The country's largest lender State Bank of India's net profit for the October-December quarter jumped by 52 per cent to Rs 3,713.66 crore.india Updated: Jan 24, 2009 16:36 IST
The country's largest lender State Bank of India's net profit for the October-December quarter jumped by 52 per cent to Rs 3,713.66 crore.
The bank had a consolidated net profit of Rs 2,442.32 crore in the December quarter last year, SBI said in a filing to the Bombay Stock Exchange.
Total income rose to Rs 30,313.14 crore in the third quarter, from Rs 24,380.99 crore a year ago, a jump of 24 per cent.
On a standalone basis, the bank recorded a net profit of Rs 2,478.42 crore during the quarter under review, whereas it had a net profit of Rs 1,808.64 crore in the same quarter a year ago.
During the quarter, standalone total income stood at Rs 21,256 crore, while it was Rs 15,364 crore last fiscal.
The interest income of the bank went up by 42 per cent at Rs 18,030 crore as against Rs 12,667 crore in the same quarter a year ago.
"Following the integration of State Bank of Saurashtra with SBI on August 14, 2008, the results are strictly not comparable," the bank said in a statement to the BSE.
Net profit for the nine months witnessed a 19 per cent growth rate at Rs 7,853 crore, against Rs 6,571 crore in the year-ago period.
At the same time, on a standalone basis profit for the nine months rose to Rs 6,379 crore from Rs 4,846 crore last financial year.
The capital adequacy ratio of the bank stood at 13.72 per cent at the end of December 31, 2008.
A day before the bank announced its quarter three figures, shares of SBI closed at Rs 1,042, down 4.34 per cent on the BSE.