Syndicate Bank Q3 profit rises 30.46%
>> Tuesday, January 27, 2009
Syndicate Bank reported a substantial rise in standalone net profit for the quarter ended December 2008.
During the quarter, the profit of the company rose 30.46% to Rs 3,564 million from Rs 2,731.90 million in the same quarter last year on good interest income.
Interest earned for the quarter rose 29.12% to Rs 25,656.50 million, while total income for the quarter rose 21.76% to Rs 27,585.20 million, when compared with the prior year period.
The company posted earnings of Rs 6.83 a share during the quarter, registering 30.59% growth over prior year period.
| Quarterly Results - Standalone (Rs in mn) | |||
| As at | Dec - 08 | Dec - 07 | %Change |
| Interest Income | 25,656.50 | 19,870.00 | 29.12 |
| Net Profit | 3,564.00 | 2,731.90 | 30.46 |
| Basic EPS | 6.83 | 5.23 | 30.59 |
Shares of the bank gained Rs 0.3, or 0.49%, to trade at Rs 61.50. The total volume of shares traded was 6,848 at the BSE (10.58 a.m., Tuesday).
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