State Bank of India (SBI) has dipped 4.2% to Rs 1,890 levels, extending its previous day’s 4.3% fall, after its net non-performing assets (NPAs) surged 28% to Rs 20,321 crore for the quarter ended June 2012 from Rs 15,818 crore at the end of March 2012. They stood at Rs 12,436 crore at the end of June quarter last fiscal.
The gross NPA rose to 4.99% in Q1FY13 from 4.44% in Q4FY12. In absolute terms, the gross NPA increased to Rs 47,156 crore from Rs 39,676 crore during the quarter under review.
Meanwhile, the bank has reported 7% quarter-on-quarter fall in its net profit at Rs 3,752 crore for the first quarter ended June 2012. Net interest income (NII) grew 16% at Rs 11,119 crore on q-o-q basis. Net interest income is the difference between interest earned and interest paid.
The stock opened at Rs 1,963 and hit a high of Rs 1,994 on the NSE. A combined 7.19 million shares have changed hands on the counter so far on both the exchanges.
