State Bank of India (SBI) reported a net profit of Rs 1263 crores for the quarter ending March 31, 2016, even as asset quality at the bank continued to worsen.
Net profits were up from Rs 1115 crores in the last quarter. The results were largely on expected lines.
The bank has declared a dividend of Rs 2.6 per shares and the date of payment of the Dividend is fixed on June 22, 2016.
Net interest income at SBI grew by 3.9 percent to Rs 15,290.76 crore from Rs 14,711.76 crore YoY.
Provisions at the bank for NPAs shot up remarkably by almost 59 percent quarter-on-quarter and 143.5 percent year-on-year to Rs 12,139.2 crore in quarter ended March 2016.
The shares of State Bank were last trading at Rs 187 on the National Stock exchange, up 1 per cent.
The stock has seen a good rally in the last few days and the results were more or less on expected lines.