SBI Caps has recorded a 63 per cent jump in its net profit to Rs 27.91 crore in 1997-98 as against Rs 17.08 crore last year. It has maintained the dividend at 25 per cent.However, the largest merchant banker in the country has suffered a marginal dip of 0.68 per cent in its gross income to Rs 140.49 crore from Rs 141.44 crore.
SBI Caps says that its net profit shot up on the back of a rise in fee-based income and earnings from securities. A somnolent primary market, however, led to a fall in its gross income.
SBI Caps' profit before tax has risen by 15.44 per cent to Rs 39.16 crore. Its profit before depreciation, interest and tax has fallen to Rs 42.49 crore from Rs 44.77 crore. While the earnings per share has gone up to Rs 4.81 from Rs 2.94, the book value of the share has increased to Rs 44.91 from Rs 42.85.
The reserves have risen to Rs 202.60 crore from Rs 190.65 crore.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
