State Bank of India (SBI), the largest
banking and financial services company in India, plunged Friday on
concern over bad loansafter the announcement of secondquarter
results, which showeda surge of 40.3% in net NPAs.
The bank reported a rise of 30.16% y-o-y in net profit to Rs
36.58 billion for the quarter ended Sept. 30, 2012.
Analysts on an average had expected net profit to come at Rs
34.44 billion. During the quarter, total income grew 12.21% to Rs
329.84 billion over same period last year.
The bank made provision of Rs 18.37 billion for September
quarter which was 37.11% lower compared last year quarter.
Net NPAs was at Rs 226.15 billion, as compared to Rs 161.21
million as on corresponding quarter last year, representing an
increase of 40.28%.
Meanwhile in percentage term, net NPA was at 2.44% as on the
quarter ended Sept. 30, 2012, as compared to 2.04% in the year ago
Shares ofthe bankare trading at Rs
2,157.70, down Rs 85.85, or 3.83% at the Bombay Stock Exchange
(BSE) on Friday at 1:24 p.m.The scrip has touched an intra-day high
of Rs 2,269 and low of Rs 2,151.00. The total volume of shares
traded at the BSE is 970,619.In the earlier session, the shares
gained 1.32%, or Rs 29.2, at Rs 2,243.55. Currently, the stock is
trading down 12.81% from its 52-week high of Rs 2,474.80 and above
36.91% over the 52-week low of Rs 1,576.
Share Price Movement
Period Pricein Rs Gain/(Loss) in Rs in % 1 Week 2,152.50 91.05 4.23
1 Month 2,227.20 16.35 0.73 3 Months 1,887.95 355.60 18.84 6 Months
1,852.20 391.35 21.13 1 Year 1,862.50 381.05 20.46 Note: Based on
previous day closing price.