26 July :Country’s largest lender State Bank of India has announced a consolidated net profit of Rs 1,640.92 crore for the quarter ended 30th June 2008, against Rs 1,861.66 crore in the corresponding period last fiscal.
The total income rose to Rs 23,747.43 crore in the latest quarter, from Rs 18,882.57 crore in the same period previous year, SBI said in a filing to the Bombay Stock Exchange.
The figures are not comparable with that of the year-ago period as the bank, with effect from 31st March 2008, has changed its accounting policies in respect of recognition of dividend on shares of corporate bodies and accounting of Mark-to-Market gains or losses in case of forex options, the filing added.
On a standalone basis, SBI reported a first quarter net profit of Rs 1,640.79 crore, against a net profit of Rs 1,425.81 crore in the same period previous fiscal.
The standalone total income rose to Rs 16,203.07 crore in the latest quarter, from Rs 12,229.09 crore a year-ago.