SBI Q3 net rises to 1099 cr, beats forecast

By siliconindia staff writer   |   Friday, 28 January 2005, 08:00 Hrs
Printer Print Email Email
MUMBAI: India's biggest commercial bank, the State Bank of India beat market expectations with a 20 percent jump in quarterly jump as it announced its Q3 results.

The bank's third quarter net profit has risen to Rs 1099 crore for the quarter ended December 31, 2004, from Rs 919 crore for the quarter ended December 31, 2003.

The income is up to Rs 10200 crore from Rs 8560 crore and other income has surged ahead from Rs 1122 crore to Rs 2238 crore.

SBI has declared an earning per share (EPS) of Rs 20.89, compared to Rs 17.47 earlier.

The third quarter gross bad loans fell to 6.5 per cent from 9.16 per cent, and net NPAs were down to 2.5 percent from 2.8 percent.

SPOTLIGHT
SpiceJet plans aggressive
Budget passenger carrier SpiceJet plans to aggressively expand its international networks to fl..
GST rate cut to spur Bengaluru
The realty market in India's tech hub is set to grow as lower Goods and Services Tax (GST) rate..
Fossil Group sells smartwatch
Global watch and accessories maker Fossil Group has announced to sell its smartphone technolog..
Ola raises Rs 400 cr for electric
Leading ride-hailing cab aggregator Ola on Friday said it raised Rs 400 crore from its early in..