State Bank of Mysore on Wednesday reported 29 per cent rise in its net profit at Rs 70.90 crore for the quarter ended December 31, 2007, as against Rs 54.94 crore in the corresponding quarter last year.

Total income of the bank increased by 37 per cent to Rs 728.20 crore for the reported quarter, as against Rs 530.27 crore for the quarter ended December 31, 2006, the Bank’s statement said. SBM’s interest earned for this quarter rose to Rs 608.80 crore, as compared to Rs 445.84 in the same period last year.

For the nine months period ended December 2007, the Bank earned a net profit of Rs 234.92 crore, registering an increase of 42.16 per cent as against Rs 165.25 crore last year. “The increase is mainly on account of an y-o-y growth of 11.76 per cent in net interest income and a growth of 30.33 per cent in other income,” the release stated. Total income saw an y-o-y growth of 41.98 per cent to reach Rs 2093.59 crore, as compared to Rs 1474.54 crore last year.