Financial Daily from THE HINDU group of publications
Tuesday, Jan 24, 2006
Financial Daily from THE HINDU group of publications Tuesday, Jan 24, 2006 |
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Money & Banking
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Financial Performance Corporate Results - Public Sector Banks State Bank of Mysore third quarter net up 15 per cent at Rs 40 cr Our Bureau
Bangalore , Jan. 23 STATE Bank of Mysore (SBM) has reported 15 per cent increase in net profit for the third quarter. An SBM release said that net profit stood at Rs 39.6 crore, up from Rs 34.38 crore during the corresponding previous period. Operating profit, however, was down at Rs 118.36 crore (Rs 172.51 crore). The higher net profit was achieved by reduced provisions. This included provisions for non-performing assets and depreciation of investments. Provision for the quarter was lower at Rs 47.68 crore (Rs 153.93 crore). The bank also reported reduction in gross income at Rs 423.31 crore (Rs 427.28 crore). The reduced income was largely on account of a fall in income from investments to Rs 107.67 crore (Rs 118.06 crore). Gross expenditure rose to Rs 304.95 crore (Rs 254.76 crore). Interest expenditure rose to Rs 184.05 crore (Rs 152.95 crore).
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