State Bank of India Quarterly Profit up 15% at Rs 1640.79 Crore
For the quarter ended June 30, 2008, State Bank of India (SBI) has posted a net profit of Rs 1640.79 crore as against Rs 1425.81 crore for the quarter ended June 30, 2007. Total Income is Rs 16203.07 crore for the quarter ended June 30, 2008 where as the same was at Rs 12229.09 crore for the quarter ended June 30, 2007.
SBI made a Rs 1,549 crore provision (net of NPA write-back) in the quarter ended June 30, against Rs 159 crore in the same period last year — nearly a ten-fold increase
The consolidated results for the Quarter ended June 30, 2008: The Group has posted a net profit after minority interest of Rs 1640.92 crore for the quarter ended June 30, 2008 where as the same was at Rs 1861.66 crore for the quarter ended June 30, 2007. Total Income is Rs 23747.43 crore for the quarter ended June 30, 2008 where as the same was at Rs 18882.57 crore for the quarter ended June 30, 2007.
Effective March 31, 2008, the Bank has changed its accounting policies in respect of recognition of dividend on shares of corporate bodies from realization basis to accrual basis where the right to receive the dividend is established.
The accounting of Mark-to-Market (MTM) gains / losses in case of forex OTC options, whereby the balance in premium received on options sold and premium paid on options bought have been considered to arrive at MTM value for forex OTC options.
Hence, the figures of corresponding quarter of previous year are not comparable.
The bank has an equity capital of Rs 634.88 crore. Face value per share is Rs 10. In February 2008, the bank raised about Rs 16,700 crore through rights issue of equity shares. The bank offered one share for every five shares held at Rs 1590 per share. As on 25th July sbi closing price was Rs 1478.35, P/E was 10.4 and Mcap (Market Capitalisation) was Rs 93,367 crore. 52 weeks share High/Low was 2397/1007
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