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SBI hits two-year high as Q4 results beat forecast

The stock moved higher by 3.6% to Rs 314, its highest level since March 4, 2015 on BSE.

SI Reporter  |  Mumbai 

Shares of State Bank of India (SBI)  moved higher by 3.6% to Rs 314, its highest level since March 4, 2015 on BSE, after the state-owned bank reported a better than expected results for the fourth quarter ended March 2017 (Q4FY17). The bank more than doubled its standalone net profit at Rs 2,815 crore in Q4FY17 against Rs 1,264 crore in the same quarter last fiscal. Net interest income (interest earned minus interest expended) rose 17% to Rs 18,071 crore in Q4FY17, as compared to Rs 15,401 crore in the corresponding quarter of previous year. Analysts on an average ...

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First Published: Fri, May 19 2017. 13:02 IST
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