SBH posts Rs.2,230 crore operating profit for 2016-17 FY

State Bank of Hyderabad (SBH) has posted an operating profit of Rs 2,230.79 crore for the first nine months of the 2016-17 financial year.

However, the bank registered a net loss of Rs 1,368 crore due to a higher loan provision of Rs 4,047 crore by the end of the third quarter of the year. “The operating profit for the nine-month period ended in December 2016 was Rs 2,230.79 crore though a higher loan provision of Rs 4,047 crore has resulted in a net loss of Rs  1,368 crore for the same period,” said Mani Palvesan, managing director of SBH, releasing the third



quarter results here on Monday.

When compared to the nine-month period of the previous financial year, the operating profit decreased by 6 pc in the same period in FY 16-17. The operating profit and the net profit for the third quarter (Oct-Dec 2016) also dipped by 74 pc and 435 pc respectively. While the operating profit stood at Rs 219.44 crore, the net loss was Rs 619.82 crore for the third quarter. 

While the total business was Rs 2,60,023 cr, the deposits increased by 16 pc to Rs 1,50,301 cr from April to December 2016.