Mumbai: Shares of SBI fell by over 1 percent Friday after the company reported a nominal increase of 3.3 percent in net profit for the quarter ended June 30.
SBI's stock ended at Rs 2,415.25, down 0.90 percent on the BSE. During the day, it lost 1.93 percent to Rs 2,390.
At the NSE, shares of SBI fell by 1.34 percent to Rs 2,403.45.
Rising provision for bad loans have restricted State Bank of India's net profit to a nominal increase of 3.3 percent at Rs 3,349.08 crore for the quarter ended June 30.
The country's largest bank had a standalone net profit of Rs 3,241.08 crore in the same quarter last year.
Total income increased to Rs 40,739.21 crore during the quarter, against Rs 36,192.62 crore in the year-ago period, the bank said in a BSE filing.
Provision for bad loans increased to Rs 3,903.41 crore as against Rs 2,265.83 crore a year earlier, registering an increase of 72 percent.
However, the bank's gross non-performing assets (NPAs) declined to 4.90 percent of total advances at the end of June, against 5.56 percent a year-ago.
During the quarter, the net interest income increased 15.12 percent to Rs 13,252 crore as against Rs 11,512 crore in the April-June period of last fiscal.
