SBI Q1 net soars 42% on strong treasury income

Slump Leads To Rise In Banks NPAs 

Oil Cos Profits Up On Inventory Gains 

New Delhi: Riding on strong treasury income, the State Bank of India (SBI)the countrys biggest banksaw a 42% jump in net profit to Rs 2,330 crore for the quarter ended June 30, from Rs 1,641 crore in the corresponding quarter last year. 
But, the current global economic slowdown also ballooned its non-performing assets (NPAs), which rose to Rs 8,404 crore by June 30 compared to Rs 6,298 crore a year ago. In percentage terms, net NPAs of the bank rose to 1.5% in Q1 from 1.4% in a years time, while gross NPAs rose to 2.8% from 2.4% in the same period last year. In Q1, the bank made a total provision of Rs 1,234 crore to cover its NPAs. 
Total income, during the quarter, rose 30% to Rs 21,042 crore from Rs 16,203 crore in the same period last year. Interest income grew 26.6% to Rs 17,473 crore from Rs 13,799 crore in the same quarter. 
State Banks income from treasury operations in the quarter grew to Rs 6,385 crore as compared to Rs 4,329 crore in same period last year. Wholesale and retail banking divisions contributed Rs 6,279 crore (Rs 4,414 crore) and Rs 8,377 crore (Rs 7,460 crore) respectively , the bank said. 
Gross advances by Juneend stood at Rs 5,49,793-crore , up 22.8%, as compared to Rs 4,47,747 crore in the year-ago period, the bank said. Due to this, the banks market share in advances rose to 16.5% as against a 15.7% last year. Its home and auto loan portfolios grew 24% and 29% respectively on a year-on-year basis. 
Total deposits by end-June went up 36% from Rs 5,61,857-crore last year to Rs 7,63,563 crore. Current and savings account deposits, on a year-onyear basis, grew by 22.7% and the proportion of CASA to total deposits presently stands at 38.4%, the bank said. 

SAIL Q1 profit declines 28% 

New Delhi: Hit by lower sales and higher input costs, SAILthe countrys largest steelmakeron Thursday posted a 28% decline in its net profit at Rs 1,326 crore for the first quarter of the current fiscal. Lower sales realisation and higher input cost led to the fall in our profit in the first quarter, SAIL chairman S K Roongta said here. AGENCIES 

DLF Q1 net slips 79% 


Realty giant DLF on Thursday reported a 79% plunge in its consolidated net profit at Rs 396 crore for the quarter ended June 30, due to a sharp decline in demand for its housing and commercial properties. AGENCIES