New delhi: The country’s largest lender SBI on Friday reported more than doubling of its net profit at Rs 2,814.82 crore for the March quarter.
The public sector bank had registered a standalone net profit of Rs 1,263.81 crore in the same period a year ago. However, for the year ended March 2017, SBI’s consolidated net profit declined by about 98% to Rs 241.23 crore from Rs 12,224.59 crore at the end of 2015-16.
Total income on a standalone basis for the March quarter increased 7.8% to Rs 57,720 crore from Rs 53,526.97 crore in the year-ago period, it said in a BSE filing.
Gross non-performing assets rose to 6.9% in January-March 2017 from 6.5% in the fourth quarter of 2015-16. However, net NPA declined to 3.71% as against 3.81% a year ago.
For the full fiscal, total income increased by 9.2% to Rs 2,98,640.45 crore from Rs 2,73,461.13 crore at the end of 2015-16.
Shares of SBI were trading at Rs 306.85 a unit, up 1.29% compared to previous close, at 1231 hrs on BSE.
PTI