SBI's Q2 profit jumps 12.35% to Rs 2,810 cr

The country's largest lender State Bank of India on Wednesday posted a 48.60 per cent jump in consolidated net profit to Rs 3,470.43 crore (Rs 34.7 billion) for the July-September quarter of the 2011-12 financial year.

The bank's consolidated net profit stood at Rs 2,363.95 crore (Rs 23.64 billion) in the second quarter last fiscal, SBI said in a filing to the BSE.

Total income of the group increased to Rs 41,249.08 crore (Rs 412.49 billion) during the period under review from Rs 37,925.44 crore (Rs 379.25 billion) in the same period last fiscal, as per the filing.

On a standalone basis, SBI recorded a 12.35 per cent increase in net profit to Rs 2,810.43 crore (Rs 28.1 billion) for the quarter ended September 30, 2011.

The bank's standalone net profit stood at Rs 2,501.37 crore (Rs 25.01 billion) in the corresponding period of the 2010-11 fiscal.

During the period, total income of the bank on a standalone basis rose by 23.43 per cent to Rs 29,394.32 crore (Rs 293.94 billion) from Rs 23,813.30 crore (Rs 238.13 billion) in the quarter ended September 30, 2010.