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SumanSpeaks Independent Capital Markets & Geopolitical Intelligence POLITICAL ECONOMY | PART 1: THE TELECOM TEST The Sangh’s Costliest Blunder: Keeping Narendra Modi in the Chair After Demonetisation and a Trail of U-Turns Two private giants, one state-propped survivor, roughly ₹3.22 lakh crore in announced BSNL revival and support packages (spectrum allocation included), and ₹1.41 lakh crore of AGR dues still on the books: telecom shows what happens when one man’s brand becomes the party’s only policy. This is an argument against Narendra Modi, not against the BJP. SYNOPSIS India’s telecom market has narrowed from a messy but real plurality into two dominant private networks, one weak private survivor kept alive by government equity, and a public operator that has needed about ₹3.22 lakh crore in announced support packages and spectrum allocations, not all of it cash. The 2010 spectrum auctions that started the debt spiral were a UPA-era event, and we say so plainly. But a ...
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SBI beats Street estimate; net profit up 14% at Rs2,828 cr
The bank posts a net profit of Rs2,828 crore in the fiscal third quarter ended December, versus Rs2,479 crore a year earlier
Mumbai: The country’s largest lender, State Bank of India (SBI), on Saturday said its net profit for the quarter ended 31 December rose by 14.08% to Rs2,828 crore, up from Rs2,479 crore in the year-ago period, despite a rise in its loan loss provisions.
A Reuters poll of 16 brokerages had forecast profit to grow 10% to Rs2,715 crore. During the quarter, the lender witnessed a healthy increase in its income from treasury, retail and wholesale banking but showed a slight rise in its gross non performing assets or NPAs, which rose to 3.17% from 3.11% in the year-ago period.
SBI’s fee income, during the period, went up by 13.12% on a year on year basis. In the third quarter, while total income, during the quarter, grew to Rs24,726.73 crore from Rs21,145.40 crore, the bank said.
SBI made a provision of Rs1,632 crore in the third quarter as compared with Rs515 crores in the same quarter last year, the bank said in a release.
Shares of State Bank rose nearly 24% in 2010, compared with a 17% rise in the main market and 33% gain in the banking sector index.

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