SBI net profit falls in Q1, NPAs increase

SBI net profit falls in Q1, NPAs increase

Allahabad Bank clocked a net profit of Rs 28.84 crore in the first quarter of the current fiscal as against a loss of Rs 564.96 crore in the previous similar period.

MMTC's total income rose to Rs 6,344.79 crore during the quarter under review, as against Rs 2,806.72 crore in the year-ago period.

Total business of the bank stood at Rs 3.53 lakh crore, out of which overseas operations contributed Rs 14,444 crore, she said. "Historical data has been arrived at by aggregating the audited numbers of the erstwhile associate banks, Bharatiya Mahila Bank and SBI for comparison purposes". Net NPAs rose to 5.97 percent in the June quarter compared to 3.71 percent in the previous quarter and 4.05 percent in the same quarter past year.

Asset quality of the bank deteriorated in Q1FY18.

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"Figures, ratios and other information are based on the merged audited numbers for June 2017".

NPA provisions (consolidated) for June quarter were of the order of Rs 12,227.60 crore, up from Rs 11,353.57 crore by the end of June 2016. Interest outgo during the quarter was down 19 per cent at Rs 488 crore (Rs 600 crore) due to pre-payment of loan. The firm's consolidated revenue from the shipping segment rose to Rs588.41 crore from Rs478.93 crore in the year-ago period.

The provisions (standalone) to cover for bad assets nearly doubled to Rs 12,125.26 crore for the first quarter of this quarter, from Rs 6,339.56 crore.

The SBI stock was down 5.85 per cent at Rs 279.20 on BSE shortly before the close of the session.

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