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State Bank of India, the country's largest lender reported 46 percent jump in fourth quarter net profit on higher interest revenues and operating income.
For the quarter to end-March, SBI reported a net profit of Rs27.42 billion from Rs18.83 billion as revenues increased to Rs220.61 billion from Rs163.94 billion a year ago.
SBI posted a full year net profit of Rs91.21 billion...
These are confusing times. A few months ago, the world was worrying that the US faces a 1930s kind of Depression. The market was assuming that we were headed for a worst-case scenario. The media was full of gloom and doom stories. Governments all over the world became desperate to get growth going by pumping hundreds of billions of dollars into the system. Many experts still doubt whether this...
If people are naïve enough to believe that auditors will do their job diligently and protect the interests of shareholders and that their reports are sacrosanct, they are living in a fool’s paradise. The Companies Act 1956 has an idiotic provision that the auditor should be appointed at the AGM (annual general meeting). Everyone knows that even if all retail investors assemble at the AGM to...
