Country's largest public sector bank the State Bank of India recored a 15.1 percent jump in its net profits for the first quarter of the financial year 2009. The consolidated net profit of of the bank stood at Rs 1,640.92 crore for the quarter ended June 30, 2008 against Rs 1,861.66 crore in during the corrosponding quarter of the prevous year. The figures are not comparable as the bank had changed its accounting policies with effect March 31, 2008.
The bank's total revenue during the quarter were up 25.8 percent at Rs 23,747.43 crore from Rs 18,882.57 crore last year.
Shares in State Bank shares fell 31 percent in the June quarter, faring worse than the 14 percent drop in the benchmark Sensex on the Bombay Stock Exchange and a 23 percent slump in the BSE Bankex.
