State Bank of Hyderabad net up

State Bank of Hyderabad on Saturday said its net profit for the year ended March 31, 2011, rose 42 per cent to Rs 1,166 crore. The bank’s net profit in the previous financial year stood at Rs 823 crore, said SBH Managing Director, Renu Challu. The bank’s operating profit increased by 35 per cent to Rs 2,319 crore, compared with Rs 1,721 crore in 2009-2010. The increase in profit was primarily owing to higher net interest income, which grew by 53 per cent, Challu said, adding total business grew by Rs 27,500 crore, or 21 per cent, to Rs 1,56,935 crore as on March 31.