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SBI Q2 standalone net slips by 38% to Rs 1,582 cr

Total income on standalone basis increased to Rs 65,429.63 crore in July-September 2017 against Rs 50,742.9 crore in the same period a year ago

Press Trust of India  |  Mumbai 

Rajnish Kumar, SBI chairman
SBI chairman Rajnish Kumar. File photo

The country's largest lender on Friday posted multi-fold jump in consolidated net profit at Rs 1,840.43 crore for the second quarter ended on September 30, boosted by the sale of its stake in Life Insurance.

Its profit was just Rs 20.70 crore during the same quarter of the last financial year.


On a standalone basis, SBI's profit declined by 37.9 per cent to Rs 1,581.55 crore, from Rs 2,538.32 crore on account of rise in

Total income on standalone basis increased to Rs 65,429.63 crore in July-September 2017 against Rs 50,742.9 crore in the same period a year ago, State Bank India said in a filing to stock exchanges.

As of September 30, the bank's gross NPAs deteriorated to 9.83 per cent of gross advances, compared with 7.14 per cent year a year ago. Similarly, the net NPAs rose to 5.43 per cent from 4.19 per cent.

Provisioning for non-performing assets (NPAs) or by the bank more than doubled to Rs 16,715.20 crore during the quarter under review, as against Rs 7,669.66 crore in the same period of last financial year.

In absolute terms, its gross NPAs rose to Rs 1,86,114.60 crore, from Rs 1,05,782.96 crore in the second quarter of the previous financial year. Net NPAs increased to Rs 97,896.29 crore as against Rs 60,013.45 crore.

Total income on consolidated basis rose to Rs 74,948.52 crore during the second quarter of the current financial year, from Rs 72,918.4 crore in the same period of 2016-17.

mopped up about Rs 8,400 crore by diluting its stake in Life Insurance through initial public offer during the September quarter.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Fri, November 10 2017. 13:43 IST
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