SBI shares down over 1% after Q1 results

Shares of SBI fell by over 1 per cent today after the company reported a nominal increase of 3.3 per cent in net profit for the quarter ended June 30.
SBI's stock ended at Rs 2,415.25, down 0.90 per cent on the BSE. During the day, it lost 1.93 per cent to Rs 2,390.
At the NSE, shares of SBI fell by 1.34 per cent to Rs 2,403.45.
Rising provision for bad loans have restricted State Bank of India's net profit to a nominal increase of 3.3 per cent at Rs 3,349.08 crore for the quarter ended June 30.
The country's largest bank had a standalone net profit of Rs 3,241.08 crore in the same quarter last year.

Total income increased to Rs 40,739.21 crore during the quarter, against Rs 36,192.62 crore in the year-ago period, the bank said in a BSE filing.

Provision for bad loans increased to Rs 3,903.41 crore as against Rs 2,265.83 crore a year earlier, registering an increase of 72 per cent.
However, the bank's gross non-performing assets (NPAs) declined to 4.90 per cent of total advances at the end of June, against 5.56 per cent a year-ago.
During the quarter, the net interest income increased 15.12 per cent to Rs 13,252 crore as against Rs 11,512 crore in the April-June period of last fiscal.