State Bank of India (SBI), the country’s largest lender reported a 10% higher second quarter net profit on 14% higher revenues. It however said its results are not strictly comparable with previous quarter as it includes the result of erstwhile State Bank of Saurashtra which was merged with SBI in August 2008.
For the quarter to end-September, the lender reported a net profit of Rs2,490 crore from Rs2259.70 crore as total revenues, including interest revenues, increased to Rs21,301 crore from Rs17,909.60 crore, a year ago.
During the quarter, SBI’s interest revenues grew to Rs17,775.90 crore from Rs15566.50 crore while its operating profit increased 15% to Rs4,835 crore. SBI said its total non-performing assets (NPAs) increased marginally to 1.73% to Rs17,375.80 crore.
On a consolidated basis, the lender reported a net profit of Rs3,133 crore from Rs2458 crore and total revenues of Rs33101.70 crore from Rs27083.50 crore. –Sanket Dhanorkar[email protected]