State Bank of India (BOM: 500112) net profit rose by 25%

State Bank of India begins to earn more

In brief: State Bank of India (BOM: 500112) shares began to rise in value against the background of a substantial increase in profits.

State Bank of India (BOM: 500112) has been gaining points on the background of a sharp increase in profits. State Bank of India’s shares up 2,784.00 points, gaining +180.40 (6.93%).

India’s largest bank State Bank of India has reported about the maximum for the last 4 quarters of earnings growth by increasing revenues from services of individuals, given the increasing pace of economic growth. Thus, the net profit for the three months ending June 30 rose by 25% and amounted to 29.1 billion rupees ($ 622 million) compared to 23.3 billion rupees a year earlier. Analysts had expected the average profit of 24.4 billion rupees.

Igor Tringlers
2010-08-12 15:16, Economics.

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