SBI's Net Profits Soar 28% In July-September Quarter

by Hemanta Pande

NEWS HIGHLIGHTS

State Bank of India on Friday reported that its net profits or profit after tax in the July-September quarter rose 27.92 per cent to Rs 18,331 crore.

New Delhi, Nov 8: State Bank of India on Friday reported that its net profits or profit after tax in the July-September quarter rose 27.92 per cent to Rs 18,331 crore.

April-June and July-September quarters combined, the lender's net profit rose 13.30 per cent to Rs 36,367 crore.

SBI's net interest income rose 5.37 per cent to Rs 41,620 crore in the September quarter. Both quarters combined, it grew 5.54 per cent to Rs 82,745 crore.

Its credit growth grew at 14.93 per cent year-on-year to Rs 39.21 lakh crore, with domestic advances growing by 15.55 per cent year-on-year.

SME and retail personal advances loans registered year-on-year growth of 17.36 per cent and 12.32 per cent, respectively.

The lender's gross NPA ratio was at 2.13 per cent, improving by 42 basis points year-on-year in the September quarter.

The lender said that the Profit per Employee and Business per Employee showing a continuous increase, reflecting increased productivity. The total number of employees stood at 2.34 lakhs. The attrition rate of 0.38 per cent (annualised) has been reported during H1-2024-25.

At the time of filing this report, shares of SBI were trading at 837.45 points, down 2.58 per cent. (ANI)SBI's net profits soar 28% in July-September quarter.

At the time of filing this report, shares of SBI were trading at 837.45 points, down 2.58 per cent. (ANI)

Business News

Puri: Rs 2.86 Crore Gained By Apran Rice Sale Deposited In Temple Account

by Pabitra Mohan Senapaty

Puri, Nov 8: Rs 2.86 crore was deposited in the Shree Jagannath Temple's bank account of the Shree Jagannath Temple Administration.

Total Rs 2, 86, 96, 244 was deposited in three phases. While Rs 1 crore was deposited first, Rs 50 lakh and Rs 1, 36, 96, 244 were deposited in the second and third phases, respectively.

Arpan Chaula (Donated Rice) was collected from families across the State before the inauguration of the Shreemandir Heritage Corridor project. While part of the rice was used as Khechudi, the rest was sold at Rs 2,780 per quintal. A total of 10,322 quintals of rice was sold at Rs 2,86,96,244.

A total of Rs 135. 88 crore was spent on the movement of Arpana Rath in all 6,794 panchayats at the rate of Rs Rs 2 lakh per panchayat. Around Rs 3.15 crore was also received as donations from the people. This money was first deposited in Shree Jagannath Temple's account. Apart from this, betel nuts and coconuts were also collected in large numbers.

BJP MLAs Run ‘Parallel Assembly’ In J&K Assembly Lawns

by Pabitra Mohan Senapaty

Srinagar, Nov 8: After they were marshalled out from the J&K Assembly for protesting against the resolution to restore Article 370, MLAs of BJP held a "parallel assembly" in the premises of the Assembly building in Srinagar on Friday.

Over a dozen BJP MLAs were forcibly removed from the Assembly while the rest of the party MLAs staged a walkout.

BJP MLAs held a "parallel assembly" in the lawns of the Assembly building where BJP MLA Sham Lal Sharma acted as the Speaker and heard the members, who spoke against the resolution.

“The way our honourable members were marshalled out is hooliganism. We had a lot of hopes with the Speaker because of his experience, but the way we were treated is unfortunate”, Pavan Gupta, a BJP MLA said in the parallel assembly and condemned the actions within the House.

He added that people are happy in Kashmir because of the peaceful situation that arose after the scrapping of Article 370. Several other MLAs spoke on the occasion.

Chander Prakash Ganga, a BJP MLA termed the legislators who brought the posters in the house as "separatists."

The majority of legislators from BJP were marshalled out after they tried to storm into the well of house to demand the rollback of the resolution passed on special status of Jammu and Kashmir. Remaining BJP MLAs staged a walk out in protest.

Speaker Abdul Rahim Rather told the marshals of the Assembly to not allow the BJP MLAs to re-enter the house.

On Wednesday, Deputy Chief Minister Surinder Choudhary plotted a resolution seeking the restoration of Article 370. The resolution was passed with voice vote.

While 42 NC MLAs voted in favour of the resolution, Independent MLAs, Sajad Gani Lone, Khurshid Ahmad Sheikh, CPI-M, MLA, Yusuf Tarigami and three PDP members also voted in favour of the resolution.

--IANS

Nayagarh: One Dead, 30 Injured After Bus Flips In Sorada

by Shambhu Datta Mishra

Nayagarh, Nov 8: In a tragic incident Friday, one person died and 30 suffered injuries after a passenger bus flipped in Sorada of Nayagarh district.

The accident took place near Sorada chowk under Daspalla Police Station when the bus -- Mandasur Bus -- hit a roadside tree while taking a turn on Khordha-Balangir NH-57. The bus was coming from Raikia, Kandhamal and was heading to Bhubaneswar.

As per reports, the driver of the bus died on the spot, while 30 people suffered injuries. More than 40 passengers were on the bus.

Fire Brigade and Police arrived at the scene as soon as they got the information about the accident. The Fire Brigade and Police rescued the passengers and sent the injured to Daspalla Community Health Centre and Nayagarh District Headquarter Hospital.

SBI's Net Profits Soar 28% In July-September Quarter

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