The SBI had posted net profit of Rs 3,742.02 crore in the corresponding, January-March quarter of the previous fiscal 2014-15.
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A record Rs 30,313-crore surge in sticky loans yanked State Bank of India’s March quarter net profit down by 66% but the sweeping corrective action earned plaudits from investors.
“We have had an outstanding year in terms of both operating performance and profit”, he said.
International Olympic Committee refineries processed a record 56.2 million tons of crude oil 2015-16, up from 53.6 million tons in the previous year.
International Olympic Committee registered the highest ever sales of petrochemical at 2.53 million tonnes in 2015-16 and refineries had a capacity utilisation of 103.7 per cent.
The state-owned banking bellwether said it had put another Rs 31,350 crore of assets on the watch list, in line with the Reserve Bank of India’s directive to lenders to clean up their books. Total deposits grew 10% to Rs 15.77 lakh crore.
For the fiscal, the bank registered net loss of Rs.2,813 crore as against net profit of Rs.2,703 crore in previous fiscal.
The firm’s total income dipped to Rs 197.23 crore during the quarter ended March from Rs 245.95 crore earlier. Also, Rs 612 crore has been provisioned for increase in rental for petrol pumps in the national capital.
Bhattacharya said the decline in net profit was due to the impact of asset quality review (AQR) to the extent of Rs 9,000 crore during the period.
“For oil companies profitability should be looked at from the point of view of the full year”, he said.
Domestic NIMs for the bank declined to 3.27% in March 2016 from 3.54% in March #2015, whereas foreign offices NIM improved to 1.29% in March 2016 from 1.18% in March 2015.
Its total income on standalone basis increased to Rs 53,526.97 crore in the quarter under review, from Rs 48,616.41 crore a year ago.
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GAIL stock closed on Wednesday at Rs.381.30 a share, up 10.25 points, or 2.76 percent, over its previous close on the Bombay Stock Exchange.
