SBI tumbles after Q3 results

State Bank of India fell 3.26% to Rs 283.80 at 14:36 IST on BSE after the bank announced its Q3 results during trading hours today, 1 February 2019.

Meanwhile, the S&P BSE Sensex was up 30.90 points, or 0.09% to 36,287.59.

On the BSE, 38.70 lakh shares were traded in the counter so far compared with average daily volumes of 9.47 lakh shares in the past two weeks. The stock had hit a high of Rs 302.35 and a low of Rs 282 so far during the day.

State Bank of India (SBI) reported net profit of Rs 3954.81 crore in Q3 December 2018 compared with net loss of Rs 2416.37 crore in Q3 December 2017. Total income rose 11.81% to Rs 70,311.84 crore in Q3 December 2018 over Q3 December 2017.

The bank's gross non-performing assets (NPAs) stood at Rs 187764.57 crore as on 31 December 2018 as against Rs 205864.12 crore as on 30 September 2018 and Rs 199141.34 crore as on 31 December 2017.

The ratio of gross NPAs to gross advances stood at 8.71% as on 31 December 2018 as against 9.95% as on 30 September 2018 and 10.35% as on 31 December 2017.

The ratio of net NPAs to net advances stood at 3.95% as on 31 December 2018 as against 4.84% as on 30 September 2018 and 5.61% as on 31 December 2017.

Provision coverage ratio of the bank was at 74.63% as on 31 December 2018.

Government of India holds 57.70% stake in SBI (as on 31 December 2018).

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