Indian Times

SBI Q1 profit surges; NPAs cause of concern


MUMBAI,10August:State Bank of India (SBI) on Friday reported a 137 per cent jump in net profit at Rs 3,752 crore for the

first quarter ended June 30, 2012, though rising non-performing loans continue to be a cause of concern.The bank had a net profit of Rs 1,583 crore in the April-June quarter of 2011-12 fiscal.The bank's net non-performing assets (NPAs) rose to 2.22 per cent of total loan book at the end of June, against 1.61 per cent a year ago, reflecting the impact of slowing economy.The bank's total income increased 16.89 per cent in the quarter to Rs 32,415 crore, from Rs 27,732 crore in the same period a year ago.Shares of SBI, however, slipped 3.65 per cent after the results to Rs 1,900.05 on the BSE in afternoon.

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