SBH Q2 net down 8% at Rs 213 cr

Higher provisioning has dragged the net profit of State Bank of Hyderabad(SBH) down by 8.02%  at Rs 213.43 crore for the quarter ended September, 2012 from Rs 232.04 crore in the crore in the corresponding quarter last year.

Total income for the quarter under review grew by 16.3% at Rs 3,282.08 crore as compared to Rs 2,821.91 crore in the year ago period while the total expenditure for the quarter increased by 16.47% to Rs 3,173.38 crore from Rs 2,724.56 crore in the corresponding previous quarter.

The bank has to set apart Rs 435.95 crore towards provisioning and contingencies for the quarter, which is 34.34% higher compared to Rs 329.52 crore provided for in the corresponding quarter last year. The increased provisioning highlights the increased levels of bad debts in the bank's books.