SBBJ profit up 24% in Q3

State Bank of Bikaner and Jaipur has reported a 24 per cent increase in net profit at Rs 164 crore in the October-December 2011 period, against Rs 132 crore in the corresponding period last year.

A 37 per cent increase in net interest income to Rs 630 crore (Rs 430 crore in the October-December 2010 period) boosted the bank's profitability despite provisions towards bad loans jumping to Rs 142 crore (Rs 76.50 crore).

Mr Shiva Kumar, Managing Director, SBBJ, attributed the profitability to better funds management and acquisition of high-yielding assets.