SBI shares tank over 5 per cent on Q1 loss

The country's largest lender SBI today reported a hefty loss of Rs 4,876 crore for the June quarter due to higher bad loans.

Published: 10th August 2018 04:06 PM  |   Last Updated: 10th August 2018 04:06 PM   |  A+A-

SBI (Photo | File/Reuters)

By PTI

NEW DELHI: Shares of SBI today tumbled over 5 per cent after the lender reported a hefty loss of Rs 4,876 crore for the June quarter.

Following the results, shares of the company erased early gains and tanked 4.85 per cent to Rs 301.10 on BSE.

On NSE, shares of the company dropped 5.32 per cent to Rs 300.50.

The country's largest lender SBI today reported a hefty loss of Rs 4,876 crore for the June quarter due to higher bad loans.

The bank had earned a net profit of Rs 2,006 crore in the April-June period of the previous fiscal, SBI said in a regulatory filing.

The bank's gross non-performing assets (NPAs) rose to 10.69 per cent of total advances at the end of June, against 9.97 per cent a year ago.

However, net NPA marginally declined to 5.29 per cent from 5.97 per cent earlier.

Accordingly, gross NPAs increased to Rs 2,12,840 crore as on June 2018 from Rs 1,88,068 crore at the end of the same month last year.

Stay up to date on all the latest Business news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

facebook twitter whatsapp