1. SBBJ reports Q1 net loss at Rs 221.56 crore, shares fall

SBBJ reports Q1 net loss at Rs 221.56 crore, shares fall

State Bank of Bikaner and Jaipur (SBBJ) shares plunged nearly 3 per cent on Thursday after the bank reported net loss of Rs 221.56 crore for the quarter ended June 30, 2016 against net profit of Rs 270.62 crore in the corresponding quarter a year ago.

By: | New Delhi | Updated: July 21, 2016 4:49 PM
sensex, nifty, bse, nse, state bank of bikaner and jaipur State Bank of Bikaner and Jaipur (SBBJ) shares plunged nearly 3 per cent on Thursday after the bank reported net loss of Rs 221.56 crore for the quarter ended June 30, 2016 against net profit of Rs 270.62 crore in the corresponding quarter a year ago. (Reuters)

State Bank of Bikaner and Jaipur (SBBJ) shares plunged nearly 3 per cent on Thursday after the bank reported net loss of Rs 221.56 crore for the quarter ended June 30, 2016 against net profit of Rs 270.62 crore in the corresponding quarter a year ago. However, net interest income of the bank jumped 5.89 per cent year-on-year to Rs 869.82 crore for the quarter under review. It had reported net interest income of Rs 821.40 crore in the same quarter last year.

The share price of the public sector bank closed 2.79 per cent down at Rs 670.85. The scrip opened at Rs 691 and has touched a high and low of Rs 699.90 and Rs 659, respectively, in trade. Benchmark BSE Bankex closed 1.70 per cent down at 21,356.94.

Gross non-performing assets (NPA) of SBBJ jumped by 27.48 per cent quarter-on-quarter to Rs 4592.87 crore against Rs 3602.76 crore in the sequential quarter ended March 31, 2016. Percentage of gross NPAs jumped to 6.20 per cent as compared to 4.82 per cent in Jan-March 2016 period.

Return on assets (RoA) of the bank turned negative to (-) 0.82 per cent from (+)0.72 per cent in the previous quarter. RoA of the bank was at 1.07 per cent in the same quarter last year.

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