SBI net profit falls in Q1, NPAs increase (Lead)

Mumbai Aug 11 (IANS) The State Bank of India (SBI) on Friday said its net profit went down to Rs 2 005.53 crore during the first quarter of the 2017-18 fiscal.

The country s largest mortgage lender s gross non-performing assets (NPA) shot up to Rs 188 068.49 crore as of June 30 as against Rs 101 541.18 crore on June 30 2016.

In a regulatory filing in BSE the bank said it has posted a net profit of Rs 2 005.53 crore down from Rs 2 520.96 crore on a standalone basis for the quarter ended June 30.

During the first quarter of the current fiscal the SBI earned a total income of Rs 62 911.08 crore up from Rs 48 928.60 crore during the same period in the 2016-17 fiscal.

The bank s provisions against bad loans shot up to Rs 12 125.26 crore for the period under review up from Rs 6 339.56 crore for the quarter ended June 30 2016.

--IANS
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