State Bank of India (SBI's) reported a superb set of numbers for the quarter ending March 31, 2015 (Q4 2015) with net profits jumping and non performing assets showing sharp improvement.
SBI Q4 Net Interest Income was placed at Rs 14,712 crore, which also beat most estimates.
What cheered analysts and the stock market was the fall in the gross non performing asset to 4.25 per cent as against 4.90 per cent in the previous quarter.
The net non performing assets also fell sharply to 2.12 per cent as against 2.80 per cent in the previous quarter. The capital adequacy as per Basel III was a healthy 12 per cent.
The stock of State Bank of India spurted following the good set of numbers. It was up 5% at Rs 305 on the National Stock Exchange, following the Q4 numbers.