SBM REPORTS Rs50.54-CR NET PROFIT
Article Abstract:
State Bank of Mysore (SBM) recorded 25.6 percent growth in net profit to Rs50.54 crore for 1997-98. SBM has declared 22 percent dividend for 1997-98 (20 percent in 1996-97). The bank's investments in government and other securities increased to Rs1,191.52 crore. The yield on investment increased to 12.28 percent (12.03 percent). SBM's aggregate deposits totaled Rs4,597.03 crore. Its advances increased by 12.72 percent to Rs3,031.91 crore. (gsh) --------------------------------------------------------- Financial Results-State Bank of Mysore (Rs in crore) --------------------------------------------------------- Particulars 1997-98 1996-97 --------------------------------------------------------- Net Profit 50.54 40.24 --------------------------------------------------------- Net Worth 217.70 175.88 --------------------------------------------------------- Earnings per share (Rs) 111.78 140.38 ---------------------------------------------------------
Comment:
Posts 25.6% growth in net profit to Rs50.54 crore for 1997-98
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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CONCOR SHOWS THE WAY
Article Abstract:
The Government of India has divested its stake in Container Corporation of India (Concor) at Rs250 per share, which is 30 percent lesser than the current market prices. The divestment will fetch Rs225 crore. Financial institutions will get 40-45 percent of the issue, foreign institutional investors 30 percent and domestic investors like mutual funds and banks the rest. The government has set a divestment target of Rs5,000 crore for 1998- 99. The success of the issue has proved that investors are interested in good offers despite poor market conditions. (rk)
Comment:
The Government of India has divested its stake in Container Corporation of India (Concor) at Rs250 per share, which is 30 percent lesser than the current market prices.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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