SBI Reports Unexpected Q1 Net Loss of Rs 4,875 Crore

Subscribe to GoodReturns
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    The State Bank of India (SBI) reported a standalone net loss of Rs 4,875.85 crore for April-June quarter, compared to analysts expectations of Rs 238 crore profit (Bloomberg). It is the country's largest lender's third consecutive quarterly loss.

    SBI Reports Unexpected Q1 Net Loss of Rs 4,875 Crore

    In the March 2018 quarter, it had reported a Rs 7718.17 crore loss, while in the June 2017 quarter, it had reported a profit of Rs 2,005.53 crore.

    SBI's provisions and contingencies increased by 115.33 percent to Rs 19,228.26 crore on a year-on-year basis from Rs 8,929.48 crore. On a quarter-on-quarter basis, it declined by 31.56 percent from Rs 28,096.07 crore in March 2018.

    The lender's gross non-performing assets (NPAs) for the quarter under review as percentage total loans dropped to 10.69 percent from 10.91 percent in March and 9.97 percent in June 2017. The net NPAs fell to 5.29 percent from 5.73 percent in March quarter and 5.97 percent in the year-ago period. 

    Interest earned during the quarter grew by 7.1 percent to Rs 58,813.18 crore from Rs 54,905.40 crore last year. Shares of SBI were trading lower after the announcement of results.

    Read more about: sbi state bank of india
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'
    India's LARGEST EVER political poll. Have you participated yet?

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more