SBI Q3 Net Profit Up at Rs 2,910 Crore: Stock surges

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    India's largest lender, State Bank of India has reported a higher net profit by 30.3 per cent at Rs 2,910 crore for the quarter ending Dec 31, 2014, as against Rs 2,234 crore in the corresponding period last year.

    The bank's gross NPA stood at 4.90 per cent against to 4.89 per cent for the last quarter, which was marginally higher. Net NPA was seen at 2.8 per cent compared to 2.73 per cent quarter on quarter.

    SBI Q3 Net Profit Up at Rs 2,910 Crore: Stock surges
    State Bank of India: Quotes, News
    BSE 261.15BSE Quote9.05 (-3.47%)
    NSE 261.15NSE Quote9.15 (-3.50%)

    Other income stood at Rs 5,240 Cr against Rs 4,210 crore. Net interest income for the quarter for the bank was placed at Rs 13,777 crore, as against Rs 13,370.

    The banks capital adequacy ratio stood at 12.03 per cent as against 11.59 per cent in the same quarter of previous year.

    Shares of the SBI rose over 5.75 per cent to Rs 300 on BSE at 12.20 PM IST. It touched an intra day high of Rs 303.48 during the trade.

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