SBI shares gain 2.5 pc post Q3 results

Shares of SBI on Friday rose 2.5 per cent after the company reported 41 per cent jump in net profit for October-December, 2019-20.

The scrip gained 2.53 per cent to close at Rs 318.55 on the BSE. During the day, it went up by 3.50 per cent to Rs 321.60.

At the NSE, it rose 2.38 per cent to close at Rs 318.10.

In terms of traded volume, 35.80 lakh shares of the company were traded on the BSE and over 9 crore shares on the NSE during the day.

The country's largest lender on Friday reported 41 per cent jump in consolidated net profit to Rs 6,797.25 crore for the third quarter as compared to Rs 4,823.29 crore in the year-ago period.

Income rose to Rs 95,384.28 crore from Rs 84,390.14 crore in October-December 2018-19, SBI said in a regulatory filing.

Gross non-performing assets (NPAs) fell to 6.94 per cent of the gross advances as at December 31, 2019 from 8.71 per cent by the same period in 2018. Net NPAs dropped to 2.65 per cent from 3.95 per cent.

On standalone basis, net profit jumped 41.2 per cent to Rs 5,583.36 crore in the third quarter of the current fiscal compared to Rs 3,954.81 crore in the year-ago period.