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State Bank of India Q2 profit misses estimates

Reuters 

(Reuters) - India, the nation's biggest lender by assets, reported a second-quarter net profit 15.82 billion rupees ($243.3 million), missing estimates, on higher provisions for bad loans.

Analysts on average had expected a net profit 26.96 billion rupees, according to Thomson data.

Gross bad loans as a percentage total loans stood at 9.83 percent at end-September compared with 9.97 percent at end-June.

($1 = 65.0350 Indian rupees)

(Reporting by Samantha Kareen Nair in Bengaluru; Editing by Muralikumar Anantharaman)

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

First Published: Fri, November 10 2017. 13:08 IST
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