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SBI Q4 net more than doubles to Rs 2,815 cr as NPA situation eases

Press Trust of India/New Delhi 19 May 17 | 03:41 PM

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.

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However, for the year ended March 2017, SBI's consolidated net profit declined by about 98 per cent 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 per cent 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 per cent in January-March 2017 from 6.5 per cent in the fourth quarter of 2015-16.

However, net NPA declined to 3.71 per cent as against 3.81 per cent a year ago.

For the full fiscal, total income increased by 9.2 per cent 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 per cent compared to previous close, at 1231 hrs on BSE.

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