SBI Q4 net profit plunges to Rs 20.88cr

Times Of India Tuesday 17th May, 2011

India (SBI) for the fourth quarter ended March 2011 nosedived to Rs 20.88 crore against Rs 1,866.60 crore in the same quarter in the previous fiscal. The erosion in the standalone net profit is mainly on account of higher provisioning against bad loans, operating expenses including employee cost besides tax outgo of over Rs 900 crore. Shares of the company dipped 6.34 per cent at Rs 2,451.40 in the afternoon session on the

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