You are here: Home » PTI Stories » National » News
Business Standard

SBI shares soar 7% on Q2 earnings

Press Trust of India  |  New Delhi 

of today surged 7 per cent after the company posted multi-fold jump in consolidated net profit for the second quarter ended on September 30.

The stock soared 6.99 per cent to Rs 335.70 on


At NSE, of the company jumped 6.71 per cent to Rs 334.75.

The stock was the top performer among the bluechips on both the indices during afternoon trade.

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

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

On 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 bad loans.

Total 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 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.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, November 10 2017. 14:22 IST
RECOMMENDED FOR YOU