State Bank of India (SBI), on Friday, was back in the black and reported a net profit of Rs 2,312 crore for the June quarter of 2019-20 (Q1FY20) on the back of healthy growth in advances and stable asset quality. The bank had reported a net loss of Rs 4,875.9 crore in the corresponding quarter of the previous fiscal (Q1FY19) and a PAT of Rs 838.4 in the March 2019 quarter (Q4FY19).
The profit beat analysts’ expectations who had pegged the profit at Rs 2,066.7 crore.
The bank’s asset quality improved with gross non-performing assets (GNPA) at Rs 1.68 lakh