The total income of the bank increased 9.1% to Rs 1,888 crore compared to Rs 1,730 crore in the same quarter last fiscal.
The operating profit has also increased 12.7% to Rs 278.48 crore compared to Rs 247 crore in the year-ago quarter.
The rise in profit was aided by a 6.6% growth in net interest income at Rs 493 crore as against Rs 462 crore in December quarter of 2013-14. Lower provisions towards non-performing assets also helped the bank.
SBM has provided Rs 101 crore towards NPAs, a decline of 31.7% over the corresponding quarter, when it had provided Rs 148 crore.
SBM's capital adequacy ratio during the third quarter improved to 11.65% from 11.19% under Basel-III norms. Its return on assets marginally improved to 0.51% from 0.49%.
The bank has reduced its net NPAs to 3.11% from 4.21% in the year ago quarter.
The provision coverage ratio to gross non-performing assets of the bank as on December 2014 stood at 62.08%.
The bank's stock was trading at Rs 573.40 per share, down 1.30% during the intra-day trade on BSE.
