1. SBI Q2 standalone net profit up 25 per cent to Rs 3,879 cr, beats estimates

SBI Q2 standalone net profit up 25 per cent to Rs 3,879 cr, beats estimates

On a consolidated basis, bottomline figures of State Bank of India rose 24 per cent to Rs 4,991.70 crore during the quarter ended September 30, 2015.

By: | Updated: November 6, 2015 1:32 PM
SBI

SBI Q2 result: On a consolidated basis, bottomline figures of State Bank of India rose 24 per cent to Rs 4,991.70 crore during the quarter ended September 30, 2015. (Reuters)

State Bank of India on Friday posted 25 per cent rise in its standalone net profit figures at Rs 3879.07 crore for the second quarter ended September 30, 2015. It earned Rs 3,100.41 crore in the corresponding quarter a year ago.

Total income of the the largest public-sector lender increased from Rs 41,833.36 crore for the quarter ended September 30, 2014 to Rs 46854.81 crore for the quarter ended September 30, 2015.

On a consolidated basis, bottomline figures of State Bank of India rose 24 per cent to Rs 4,991.70 crore during the quarter ended September 30, 2015. The lender posted net profit of Rs 4023.84 crore in the same quarter last year.

Total income has jumped to Rs 66,585.85 crore for the second quarter, from Rs 61,098.67 crore in the same period last year.

Analysts on average had expected the lender to report a net profit of Rs 3,639 cr, according to data compiled by Thomson Reuters.

Gross bad loans as a percentage of total loans dropped to 4.15 per cent from 4.29 per cent in the June quarter. Provisions for bad loans dropped almost 7 per cent.

The stock of SBI was trading 4.08 per cent up at Rs 243.75 on BSE during afternoon trade.

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