SBI shares gain 2.5 pc post Q3 results

Shares of SBI on Friday rose 2.5 percent after the company reported 41 percent jump in net profit for October-December, 2019-20. The scrip gained 2.53 percent to close at Rs 318.55 on the BSE. During the day, it went up by 3.50 percent to Rs 321.60.

At the NSE, it rose 2.38 percent to close at Rs 318.10. In terms of traded volume, 35.80 lakh shares of the company were traded on the BSE and over 9 crore shares on the NSE during the day.

The country's largest lender on Friday reported 41 percent jump in consolidated net profit to Rs 6,797.25 crore for the third quarter as compared to Rs 4,823.29 crore in the year-ago period. Income rose to Rs 95,384.28 crore from Rs 84,390.14 crore in October-December 2018-19, SBI said in a regulatory filing.

Gross non-performing assets (NPAs) fell to 6.94 percent of the gross advances as of December 31, 2019, from 8.71 percent by the same period in 2018. Net NPAs dropped to 2.65 percent from 3.95 percent. On a standalone basis, net profit jumped 41.2 percent to Rs 5,583.36 crore in the third quarter of the current fiscal compared to Rs 3,954.81 crore in the year-ago period.