State Bank of Hyderabad reported an increase of 6.8 per cent in net profit to Rs 321.72 crore for the quarter ended December 31, 2012, as compared with Rs 301.25 crore in the corresponding quarter previous year. Total income for the quarter under review grew 13.07 per cent to Rs 3,374.05 crore from Rs 2,984.06 crore, slightly impacted by the negative growth in other income. Net interest income was up 15.47 per cent to Rs 974 crore from 845.29 crore in the corresponding previous quarter while interest income too increased 15.54 per cent.
The bank’s operating profit grew 19.17 per cent on the back of lower operating expenditure. SBH was also able to bring down the net non performing assets (NPA) to 1.48 per cent from 1.99 per cent a year ago even as gross NPAs remained almost at the year-on-year level at 3.38 per cent. Total business expanded by 16.09 per cent to touch Rs 1,94,215 crore. Of this, deposits stood at Rs 1,10,455 crore with a y-o-y growth of 14.9 per cent while advances grew 17.69 per cent to Rs 83,760 crore.
