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Stock Report
SBI Q1 Profit soars to Rs.1425.81 Crores
Posted On : 2007-07-28 23:35:14( TIMEZONE : IST )
State Bank of India (SBI) has announced the following Un-Audited results for the quarter ended June 30, 2007.
The Bank has posted a net profit of Rs 14258.10 million for the quarter ended June 30, 2007 as compared to Rs 7985.70 million for the quarter ended June 30, 2006. Total Income has increased from Rs 95667.90 million for the quarter ended June 30, 2006 to Rs 122290.90 million for the quarter ended June 30, 2007.
The Consolidated results are as follows: The Group has posted a net profit after minority interest of Rs 18616.60 million for the quarter ended June 30, 2007 as compared to Rs 9630.10 million for the quarter ended June 30, 2006. Total Income has increased from Rs 141189.70 million for the quarter ended June 30, 2006 to Rs 188826.80 million for the quarter ended June 30, 2007.
The company has reported an Earnings Per Share (EPS) of Rs.27.09 for the quarter ended June 30, 2007 compared to Rs.15.17 during quarter ended June 30, 2006.
The Capital Adequacy Ratio in Percent was at 13.13 during quarter ended June 30, 2007 compared to 11.97% during quarter ended June 30, 2006.
During the quarter, the Bank has made an additional provision of Rs 2000/- million, over and above the RBI norms, towards non-performing advances as a measure of risk mitigation.
During the quarter, the Bank has acquired 7300 shares of its subsidiary Indian Ocean International Bank Ltd (IOIB) Mauritius, increasing its stake in IOIB from 56.84% to 56.89%.
During the quarter, the Bank has raised USD 225 million (Rs 9158.60 million) as Hybrid Tier I Capital in the form of Perpetual Non Call 2017 Bonds.
During the quarter, the entire share holding of Reserve Bank of India in State Bank of India [aggregating 31,43,39,200 equity shares (59.73%), with a face value of Rs 10/- each] has been transferred to the Central Government.
During the quarter, the Bank has shifted SLR investments having aggregate Face Value of Rs 90815.70 million (quarter ended June´06 - Rs 94000 million) from ‘Available for Sale’ (AFS) category to ‘Held to Maturity’ (HTM) category, resulting in a net revaluation loss of Rs 2976.70 million (quarter ended June, 2006 - Rs 2257.30 million).
The stock closed on Friday at Rs.1500.05, down by Rs.50.80 or 3.28%. The total traded quantity was 955059 compared to 2 week average of 459913. The stock hit an intraday high of Rs.1540 and low of Rs.1470.05.
