SBI vaults after strong Q3 outcome

State Bank of India surged 6.19% to Rs 302 at 13:05 IST on BSE, after net profit rose 30.24% to Rs 2910.06 crore on 12.07% rise in total income to Rs 43783.98 crore in Q3 December 2014 over Q3 December 2013.

The bank announced Q3 result during market hours today, 13 February 2015.

Meanwhile, the S&P BSE Sensex was up 226.57 points or 0.79% at 29,031.67

The stock surged on high volume. On BSE, so far 60.03 lakh shares were traded in the counter as against average daily volume of 19.35 lakh shares in the past one quarter.

The stock hit a high of Rs 303.40 and low of Rs 285.50 so far during the day. The stock had hit a 52-week high of Rs 335.90 on 28 January 2015. The stock had hit a 52-week low of Rs 145.60 on 14 February 2014.

The large-cap public sector bank has equity capital of Rs 746.57 crore. Face value per share is Re 1.

SBI's ratio of net non-performing assets (NPAs) to net advances stood at 2.8% as on 31 December 2014, compared with 2.73% as on 30 September 2014 and 3.24% as on 31 December 2013.

The bank's ratio of gross NPAs to gross advances stood at 4.9% as on 31 December 2014, compared with 4.89% as on 30 September 2014 and 5.73% as on 31 December 2013.

Provisions and contingencies rose 26.15% to Rs 5234.91 crore in Q3 December 2014 over Q3 December 2013.

The bank's provision coverage ratio stood at 63.56% as on 31 December 2014.

The bank's Capital Adequacy Ratio (CAR) as per Basel III norms stood at 12.03% as on 31 December 2014, compared with 12.33% as on 30 September 2014 and 11.59% as on 31 December 2013.

On a consolidated basis, SBI's net profit rose 34.86% to Rs 3828.20 crore on 10.15% rise in total income to Rs 64604.62 crore in Q3 December 2014 over Q3 December 2013.

The Government of India held 58.6% stake in SBI (as per the shareholding pattern as on 31 December 2014).

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