India’s largest bank State Bank of India
reported 30.5 per cent growth in net profit at Rs. 3,100.41 crore for the
quarter ended September 30.
In a filing to the BSE, SBI said standalone
net profit of the bank was Rs. 2,375 crore in July-September quarter of 2013-14.
Provisioning against bad loans during the quarter stood at Rs. 4,274 crore, up
41 per cent from Rs. 3,029 crore in the September quarter of last fiscal.
Gross non-performing assets (NPA) as a
percentage of total advances stood at 4.89 per cent at the end of September,
lower than 5.64 per cent in the year-ago period. Net NPA was 2.73 per cent.
Total income increased to Rs. 41,833
crore during the quarter from Rs. 37,199.92 crore in the corresponding period
last year. On a consolidated basis, SBI’s net profit rose 31 per cent to Rs.
4,024 crore during the second quarter.
The group’s net profit after taxes, minority interest and share of profit/(loss) of associates was Rs. 3,073 crore in the same quarter of previous fiscal.SBI shares were trading 1.43 per cent up at Rs. 2,758.10 per scrip during afternoon session on the BSE.
The group’s net profit after taxes, minority interest and share of profit/(loss) of associates was Rs. 3,073 crore in the same quarter of previous fiscal.SBI shares were trading 1.43 per cent up at Rs. 2,758.10 per scrip during afternoon session on the BSE.
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