State Bank of India on Tuesday announced the results for the quarter ended June 30, 2015. Results met market expectations, however, rise in NPA dragged the stock lower.
Here are 5 highlights of the results.
1. The bank reported a net profit of Rs 3692 crores for Q1 2015 ending June 30, 2015, as against a net profit of Rs 3349 crores reported in the corresponding period of last year.
2. Net non performing assets rose to 2.24 per cent for the quarter as against 2.12 per cent reported in the previous quarter of last year.
3. Gross non performing assets increased to 4.29 per cent from 4.25 per cent, signalling a further deterioration in asset quality.
4. Net Interest Income was up 3.6 per cent to Rs 13,732 crore, against Rs 13,253 crore in the year-ago period.
5. Shares of State Bank of India fell after the results and were seen trading at Rs 273, lower by 3.23 per cent on BSE at 12.58 pm IST.