State Bank of India (SBI) has announced the following Unaudited results for the quarter ended December 31, 2008:
The Bank has posted a net profit of Rs 24784.20 million for the quarter ended December 31, 2008 where as the same was at Rs 18086.40 million for the quarter ended December 31, 2007. Total Income is Rs 212559.00 million for the quarter ended December 31, 2008 where as the same was at Rs 153640.00 million for the quarter ended December 31, 2007.
The consolidated results for the Quarter ended December 31, 2008
The Group has posted a net profit after minority interest of Rs 36076.10 million for the quarter ended December 31, 2008 where as the same was at Rs 23836.70 million for the quarter ended December 31, 2007. Total Income is Rs 303181.40 million for the quarter ended December 31, 2008 where as the same was at Rs 243809.90 million for the quarter ended December 31, 2007.
Effective from March 31, 2008, the Bank has adopted AS 15 (Revised 2005) ‘Employee Benefits’. The provisions for employee benefits for the current period are based on AS 15 (Revised 2005). Hence, the figures of corresponding period of previous year are not comparable.
The figures of the current period include the working results of the branches of erstwhile State Bank of Saurashtra (SBS) for the period from August 14, 2008 consequent to merger of e-SBS with the Bank. Accordingly, the figures of the previous period are strictly not comparable.