SBI Records 35% Fall In Q3 Net Profit At Rs 9,163 Crore
State Bank of India (SBI) on Saturday reported a 35 per cent decline in net profit at Rs 9,163 crore for the October-December quarter of the current financial year. SBI said that the drop in profit was due to a one-time exceptional item of Rs 7,100 crore for a provision towards higher pension costs and wage revisions of its staff. The country’s largest bank had made a net profit of Rs 14205 crore in the same quarter of the previous year.