SHB net profit up 6.8%

State Bank of Hyderabad reported an increase of 6.8% 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% 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% to Rs 974 crore from 845.29 crore in the corresponding previous quarter while interest income too increased 15.54%.

The bank's operating profit grew 19.17% on the back of lower operating expenditure. SBH was also able to bring down the net non performing assets (NPA) to 1.48% from 1.99% a year ago even as gross NPAs remained almost at the year-on-year level at 3.38%. Total business expanded by 16.09% to touch Rs 1,94,215 crore. Of this, deposits stood at Rs 1,10,455 crore with a year-on-year growth of 14.9% while advances grew 17.69% to Rs 83,760 crore.