SBI Q3 net doubles to Rs 2,610 cr, first rise in five quarters

NPA provisions decline but gross bad loans as a percentage of total loans rose slightly to 7.23%

State Bank of India (SBI), the country's largest lender, has posted a 134 per cent rise in net profit at Rs 2,610 crore in the December quarter, predominantly on a hefty rise in sale of

investments (securities) and revenues from part-stake sale in its life insurance subsidiary.

It had a net profit of Rs 1,115 crore in October-December 2015. The share closed flat at Rs 276 on the BSE. 

Net interest income rose by 7.6 per cent to Rs 14,751 crore. The net interest margin (domestic) declined by 19 basis points (bps) over a year to 3.03 per cent. And, down