State Bank of India released September quarter results, bank's profit increased by more than 9 percent
SBI Q2 Result: The country's largest government bank has announced the results for the September quarter. The bank said in its filing that this quarter net profit has increased by 9.13 percent. Bank shares closed with gains. Read the full news.
State Bank of India, the country's largest public sector bank, announced the September quarter results on Saturday. The bank's net profit for this quarter registered an increase of 9.13 percent to Rs 16,099.58 crore. It had recorded a profit of Rs 14,752 crore in the year-ago period and Rs 18,356 crore in the June quarter.
On a standalone basis, the bank earned a net profit of Rs 14,330.02 crore, compared to Rs 13,264.52 crore in the year-ago period.
The bank, which controls one-fifth of the total market and has the widest network in the country, reported a total income of over Rs 1.12 lakh crore in the quarter under review. This was Rs 88,733 crore in the year-ago period.
The bank's NPA stood at 2.55 percent as of September 30, which was an improvement from 3.52 percent in the year-ago period and 2.76 percent in the first quarter of the current financial year. Its total capital adequacy as of September 30 was 14.28 percent.
On Friday, SBI shares closed at Rs 579.15 per share with a gain of 7.05 points.
