SBM net up 58% to Rs 24cr in Q3

Bangalore, January 30: | Updated: Jan 31 2002, 05:30am hrs
State Bank of Mysore (SBM) has posted a 57.76 per cent rise in net profit to Rs 24.18 crore in the third quarter ended December 31, 2001 against Rs 15.33 crore earned in the corresponding period previous year.

Operating profits for the first nine months grew 39.24 per cent to Rs 159.72 crore as against Rs 114.70 crore earned last year. After providing towards taxes and NPA, net profit for the nine-month period grew 45.8 per cent to Rs 48.2 crore against Rs. 33.06 crore in the previous year.

Total income for the first nine months ended Dec 31, 2001 rose 12.46 per cent to Rs 877.39 crore, against Rs 780.16 crore earned during the previous year. Other income was higher at Rs 137.40 crore as against Rs 99.42 crore over the previous year registering an increase of 37.98 per cent. Total expenditure, after providing pro-rata share of deferred revenue expenditure for VRS was Rs 717.67 crore for the nine-month period of the fiscal.