State Bank of India has announced the results for the quarter ended March 31, 2010.

The public sector lender has recorded a net profit of Rs 1867 crore during the three month period ended March 2010 as against Rs 2742 crore during the same period of last year.

The bank's quarterly income dropped 31.93% over the prior year period.

The total income of the country's largest banking institution surged 1.87% to Rs 224,741.20 million over the prior year period.

During the fourth quarter, the net interest income of the bank increased by 38.82%.

Interest income on advances surged 9.11% per cent YOY, despite a fall in yield by 49 bps from 10.15% on March 2009 to 9.66% as on March 2010 due to reduction in peak PLR by 200 bps and average PLR by 87 bps during financial year 2010 over financial year 2009.

Fee income remained up by 26.57%.

The business growth of SBI was at Rs 1,54,983 crore at the end of March 2010.

Mr. O. P. Bhatt, SBI Chairman said that the bank continues to be number 1 in the existing fiscal on the back of robust growth in home, auto and education loans.

Mr. Bhatt also said that SBI is also considering a right issue and want to collect Rs 15, 000 crore to Rs 20,000 crore within this fiscal without reducing the stake of the Union Government.

The bank's board announced a dividend of Rs 30 per share or 300% for the year ended Mar. 31, 2010 inclusive of an interim dividend already paid of Rs 10 a share or 100%.

On Friday (May 14), the shares of the bank ended at Rs 2222.65 on the Bombay Stock Exchange (BSE). The total volume of shares traded was 1078344.

The share price has seen a 52-week high of Rs 2500 and a low of Rs 1225 on BSE. (With Inputs from Agencies)