SBI quarter 1 net profit dips 35 per cent

Total income dipped 1.34 per cent to Rs 10,598.75 crore for the first quarter in 2006-07 from Rs 10,742.85 crore in Q1 FY 05-06.

State Bank of India on Thursday reported a 34.69 per cent decline in net profit at Rs 798.57 crore for the quarter ended June 30, as compared to Rs 1,222.83 crore for the corresponding quarter in 2005-06.

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Total income dipped 1.34 per cent to Rs 10,598.75 crore for the first quarter in 2006-07 from Rs 10,742.85 crore in Q1 FY 05-06, the company informed the Bombay Stock Exchange.

The Group posted a consolidated net profit after minority interest of Rs 963.01 crore for the quarter ended June 30, as against Rs 1,322.67 crore for the same quarter in FY 05-06.

Consolidated total income of the group rose to Rs 15,290.27 crore for Q1 FY 06-07 from Rs 14,483.50 crore in Q1 FY 05-06.