State Bank of Hyderabad today said its net profit for the second quarter ended September 30 was up by over 91 per cent to Rs 311 crore.
The public sector bank had posted a net profit of Rs 163 crore during the same quarter last year.
Income from Interest rose by 4.7 per cent to Rs 3,451 crore during the quarter against Rs 3,296 crore in the corresponding quarter during FY14, SBH said in a statement.
"Intensive NPA (Non-Performing Assets) recovery efforts taken by the Bank have yielded results, and the Gross NPAs declined from Rs 6,174 crore in June 2014 to Rs 5,654 crore in September 2014. As a result, Gross NPA ratio declined from 6.26 per cent to 5.73 per cent, and Net NPA ratio reduced from 3.37 per cent to 2.87 per cent, during the period," the bank said.
Bank's total business stood at Rs 2,19,307 crore at end of the second quarter of the current fiscal, consisting of total Deposits of Rs 1,20,664 crore and total Advances of Rs 98,643 crore.
The Credit Deposit Ratio was at 83.19 per cent as on September 30, against 80.10 per cent by last year's Q2 end.
The bank opened 57 branches during the first half of the year, taking total branch network to 1,751, it said.
