SBI's gross non-performing asset (NPA) stood at 2.42%, down from 3.14% recorded in the corresponding quarter last year. Its net NPA for this quarter stood at 0.64 percent compared to 0.77 percent last year.
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State Bank of India (SBI) surged 13.04% to Rs 401.40, extending recent gains after the bank declared Q3 results during market hours yesterday, 4 February 2021.
Shares of SBI soared 42.31% in five trading sessions from a recent closing low of Rs 282.05 on Friday, 29 January 2021. The stock climbed 5.73% to end at Rs 355.10 on Thursday, 4 February 2021.
SBI s net profit fell 6.9% to Rs 5,196.22 crore on 1.1% decrease in total income to Rs 75,980.65 crore in Q3 December 2020 over Q3 December 2019.
The net profit rose 13.60% sequentially. Bank registered an operating profit of Rs 17,333 crore in Q3FY21 compared with Rs 16,460 crore in Q2FY21, an increase of 5.31% sequentially.
Profit before tax (PBT) dropped 36.3% to Rs 6,990.77 crore in Q3 FY21 as against Rs 10,969.66 crore in Q3 FY20. Provision for taxes tumbled 66.7% to Rs 1,794.55 crore in Q3 FY21 compared with Rs 5,386.30 crore in Q3 FY20.