Friday, 8 August 2014

    SBI surprises street, Q1 profit rises 3% to Rs 3349 cr 

     India's largest lender  State Bank of India (SBI) surprised street with the first quarter (April-June) net profit rising 3.3 percent year-on-year to Rs 3,349 crore on higher net interest income though it was impacted by higher provisions, tax cost and lower other income. Net profit in the year-ago period was Rs 3,241.08 crore. The growth in profitability was for the first time in last six quarters.

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