State Bank of India fell 1.29% to Rs 313.10 at 14:39 IST on BSE after the bank reported net profit of Rs 2,312.20 crore in Q1 June 2019 compared with net loss of Rs 4,875.85 crore in Q1 June 2018.
The result was announced during market hours today, 2 August 2019.
Meanwhile, S&P BSE Sensex was up 143.02 points or 0.39% at 37,161.34.
On BSE, 21.94 lakh shares were traded in State Bank of India counter, compared to a 2-week average of 8.64 lakh shares. The stock hit an intraday high of Rs 322.20 and an intraday low of Rs 310. It hit a 52-week high of Rs 373.70 on 18 July 2019 and a 52-week low of Rs 247.65 on 26 October 2018.
Total income rose 7.88% to Rs 70,653.23 crore in Q1 June 2019 over Q1 June 2018.
The bank's gross non-performing assets (NPAs) stood at Rs 1,68,493.94 crore as on 30 June 2019 as against Rs 1,72,750.36 crore as on 31 March 2019 and Rs 2,12,839.92 crore as on 30 June 2018.
The ratio of gross NPAs to gross advances stood at 7.53% as on 30 June 2019 as against 7.53% as on 31 March 2019 and 10.69% as on 30 June 2018.
The ratio of net NPAs to net advances stood at 3.07% as on 30 June 2019 as against 3.01% as on 31 March 2019 and 5.29% as on 30 June 2018.
The bank's provisions and contingencies fell 52.24% to Rs 9,182.94 crore in Q1 June 2019 over Q1 June 2018. Of this, provisions for NPAs fell 10.66% to Rs 11,648.45 crore in Q1 June 2019 over Q1 June 2018.
Provision coverage ratio of the bank was at 79.34% as on 30 June 2019.
State Bank of India provides a range of products and services to personal, commercial enterprises, large corporates, public bodies and institutional customers.
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