SBI tumbles after weak Q1 results

State Bank of India fell 3.63% to Rs 1,601.10 at 13:10 IST on BSE after net profit fell 13.61% to Rs 3241.08 crore on 11.65% increase in total income to Rs 36192.62 crore in Q1 June 2013 over Q1 June 2012.

The bank announced the results during trading hours today, 12 August 2013.

Meanwhile, the S&P BSE Sensex was up 212.83 points, or 1.13%, to 19,002.17.

On BSE, 7.12 lakh shares were traded in the counter as against an average daily volume of 4.29 lakh shares in the past one quarter.

The stock was volatile. It rose 0.51% at the day's high of Rs 1,670. It slumped 5.20% at the day's low of Rs 1,575, which is also a 52-week low for the counter. The stock had hit a 52-week high of Rs 2,550 on 10 January 2013.

The stock had underperformed the market over the past one month till 8 August 2013, sliding 11.50% compared with the Sensex's 2.77% fall. The scrip had also underperformed the market in past one quarter, falling 26.27% as against Sensex's 6.01% fall.

The large-cap state-run bank has an equity capital of Rs 684.03 crore. Face value per share is Rs 10.

State Bank of India's (SBI) ratio of net non-performing assets to net advances stood at 2.83% as on 30 June 2013, higher than 2.10% as on 31 March 2013 and 2.22% as on 30 June 2012.

The bank's ratio of gross non-performing assets (NPA) to gross advances stood at 5.56% as on 30 June 2013, higher than 4.75% as on 31 March 2013 and 4.99% as on 30 June 2012.

Provisions and contingencies rose 16.67% to Rs 2865.88 crore in Q1 June 2013 over Q1 June 2012. The provisioning coverage ratio as on 30 June 2013 stood at 60.60%.

The bank's Capital Adequacy Ratio (CAR) as per Basel II norms stood at 12.12% as on 30 June 2013, lower than 12.92% as on 31 March 2013 and 13.17% as on 30 June 2012.

Government of India holds 62.31% stake in SBI (as on 30 June 2013).

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